Oil Prices Edge Up, But Lockdowns Restrain Gains Via Reuters: Oil prices edged up on Monday as supply jitters and U.S. stimulus plans offset fresh concerns about the hit to global fuel demand from renewed lockdowns to curb spikes in COVID-19 infections. Brent crude futures for March rose 34 cents, or 0.6%, to $55.75 a barrel by 1008 GMT. U.S. West Texas Intermediate crude for March was up 37 cents, […]
Oil Down $1 As China COVID-19 Cases Trigger Clampdowns Via Reuters: Oil prices fell on Friday, retreating further from 11-month highs hit last week, weighed down by worries that new pandemic restrictions in China will curb fuel demand in the world’s biggest oil importer. Brent crude futures fell $1.09, or 1.9%, to $55.01 a barrel by 1021 GMT, after a 2 cent gain on Thursday. U.S. West Texas Intermediate (WTI) […]
Oil Steady As Chinese Data Offsets Coronavirus Fears Via Reuters: Oil prices held steady on Monday as a better than expected quarterly rebound for China’s economy countered fears over soaring COVID-19 cases around the world and tight restrictions that could dent economic growth and fuel consumption. Brent crude gained 3 cents, or 0.1%, at $55.13 a barrel by 0938 GMT while U.S. oil was up 2 cents, or less than […]
Oil Hits Highest Since Late Feb On Saudi Cuts, U.S. Stock Draw Via Reuters: Oil prices hit their highest since late February on Thursday after a fall in U.S. stockpiles added further support following the unilateral decision by Saudi Arabia to cut output. Brent crude was up 18 cents, or 0.3%, at $54.48 a barrel at 1015 GMT after earlier touching $54.90, levels not seen since before the the first […]
Oil's Rally, Fueled By Vaccine Progress, Is Running Out Of Steam Via Reuters: The oil market has rallied almost 40% in the last two months, pushing benchmarks to nine-month highs, in a euphoric response to progress on COVID-19 vaccines that has investors thinking the end of the coronavirus pandemic is in sight. Reality struck back on Monday, however, with a selloff driven by the surge in cases in the United […]
Oil falls $2 As New Virus Strain Sparks Demand Worries Via Reuters: Oil prices tumbled by $2 on Monday, as a fast-spreading new coronavirus strain that has shut down much of Britain and led to tighter restrictions in Europe sparked worries about a slower recovery in fuel demand. Brent crude was down $2.06, or 3.9%, to $50.20 a barrel by 0926 GMT, and U.S. West Texas Intermediate (WTI) crude was […]
Oil Rises On Vaccine Hopes Despite U.S. Stock Build Via Reuters: Oil prices rose on Wednesday as news about COVID-19 vaccines lifted investor hopes for a recovery in fuel demand and outweighed concerns sparked by figures indicating U.S. oil inventories jumped last week. Brent crude rose 57 cents, or 1.2%, to $49.41 a barrel by 0955 GMT. U.S. West Texas Intermediate (WTI) crude CLc1> climbed 57 cents, or 1.3%, to […]
Oil In Reverse As Rise In U.S. Crude Stocks Fans Oversupply Fears Via Reuters: Oil prices went into reverse on Wednesday, giving up the previous day’s gains as a surge in U.S. crude stocks and rising coronavirus infections in the United States and Europe fanned fears of a supply glut and weaker fuel demand. Brent crude futures LCOc1 were down $1.20, or 2.9%, at $40 a barrel by 0920 GMT, […]
