Oil prices rise 2% on fears Suez blockage may last weeks Via Reuters: Oil prices reversed a sharp sell-off a day earlier to rise about 2% on Friday on mounting fears that it could take weeks to dislodge a giant container ship blocking the Suez Canal, which would squeeze supplies of crude and refined products. Prices, however, were still headed for a third consecutive weekly loss, with the outlook for […]
Oil climbs as surprise drop in U.S. crude stocks outweighs European vaccine woes Via Reuters: Oil prices climbed on Wednesday as investors weighed a recovery in U.S. refinery activity as industry data showed U.S. crude stockpiles unexpectedly fell last week against concerns of rocky demand in Europe. Brent crude futures rose 35 cents, or 0.5%, to $68.74 a barrel by 0641 GMT, after initially falling as much as 27 cents. […]
Oil rises to $69 as focus returns to tighter market Oil rose to $69 a barrel on Tuesday as investors focused on prospects for tighter supply due to extended OPEC+ output curbs and amid growing hopes of a recovery in demand. Crude hit its highest since the start of the pandemic on Monday after Yemen’s Houthi forces fired drones and missiles at Saudi oil sites on Sunday. Saudi Arabia said […]
Oil Hovers Near 13-Month Highs As Storm Hits U.S. Output Via Reuters: Oil prices extended gains for a fourth session on Thursday to reach the highest levels in more than 13 months, underpinned by an assurance that U.S. interest rates will stay low, and a sharp drop in U.S. crude output last week due to the storm in Texas. Brent crude futures for April gained 33 cents, 0.49%, to $67.37 […]
Oil Prices Rise With Storm-Hit U.S. Output Set For Slow Return Via Reuters: Oil prices rose on Monday as the slow return of U.S. crude output cut by frigid conditions served as a reminder of the tight supply situation, just as demand recovers from the depths of the COVID-19 pandemic. Brent crude was up 33 cents, or 0.5%, at $63.24 a barrel by 0945 GMT, after gaining nearly 1% last […]
California Lawmakers Propose Ban On Fracking By 2027 Via AP News: New legislation would ban all fracking in California by 2027, taking aim at the powerful oil and gas industry in the state already planning to ban the sale of new gas-powered cars by 2035. Progressive California has long been a leader in combating climate change, requiring solar panels on new homes and passing a law to make the nation’s […]
U.S. Oil Prices Climb On Texas Cold Snap, Brent Stable Via Reuters: Oil prices hovered near 13-month highs on Tuesday on the back of a cold snap shutting wells in Texas, the the biggest crude producing state in the United States, while a wage deal in Norway averted outages in Europe, capping gains. Prices also gained after Yemen’s Iran-aligned Houthi group said it had launched attacks on Saudi Arabia, raising […]
Oil Hits 13-Month Highs As Market Re-Balances Via Reuters: Oil prices soared on Monday to their highest in about 13 months as vaccine rollouts promised to revive demand and producers kept supply reined in. Brent crude was up 77 cents, or 1.2%, at $63.20 a barrel at 0955 GMT, after climbing to a session high of $63.76, the highest since Jan. 22, 2020. U.S. West Texas Intermediate (WTI) crude futures […]
World Stock Markets Were Pushing For A Fourth Day Of Gains Via Reuters: World stock markets were pushing for a fourth day of gains on Thursday as a near one-year high in oil prices, a revitalised dollar and rising bond yields refocused attention on inflation and normalising economies. With the WallStreetBets/Reddit retail trading tumult having eased this week, markets were back in their comfort zone of corporate earnings, economic data […]
