Oil steadies as US stockpiles drop with focus on Iran progress
Oil was steady in Asian trading after a surprise decline in US crude inventories tightened the market further amid signs of strong demand in the world’s biggest economy.
brent
Oil edges higher after report points to falling US stockpiles
Oil edged higher after a two-day decline as an industry report pointed to shrinking US crude and gasoline stockpiles.
Roaring oil market heads for seventh weekly gain as WTI tops $90
Oil headed for a seventh weekly gain as investors fret over a fast-tightening market, geopolitical tensions and freezing weather in the US.
Oil edges lower as traders digest OPEC+ decision to add barrels
Oil eased from a seven-year high as traders waited to see whether OPEC+ can deliver on its latest promised increase in supply.
Morgan Stanley sees Brent hitting $100 by third quarter
Add Morgan Stanley to the list of banks expecting crude to reach $100 a barrel later this year.
Wall Street is about to take oil out to a wild party
Supply and demand fundamentals drive oil prices. Things like OPEC+ production plans and US driving patterns matter the most — until they don’t. That’s when the wizardry of Wall Street takes over, giving prices a push up or down beyond what the physical fundamentals warrant.
Crucial Iraq-Turkey oil pipeline knocked out by explosion sending oil prices higher
A key crude pipeline from Iraq to a Turkish port on the Mediterranean Sea was knocked out by an explosion on Tuesday, adding pressure to already tight oil markets and sending prices higher with oil extended gains in Asia from the highest close since 2014.
Brent oil climbs to 2014 high as geopolitical unrest returns
Brent oil extended gains to the highest level in seven years as geopolitical tensions stirred in the Middle East and concerns about the demand impact of the omicron virus variant eased.
Oil edges higher as Libyan output falls ahead of OPEC+ meeting
Oil edged higher as Libyan supply tightened ahead of an OPEC+ meeting on Tuesday to discuss production policy for February.
Oil extends decline with bearish headwinds mounting
Oil extended declines as the rapid spread of the omicron variant of the virus increased concerns about the outlook for energy demand.
US-Saudi diplomacy paved way for OPEC+’s surprise output hike
The US and Saudi Arabia have reached a detente after weeks of hostility about high oil prices, with the OPEC+ cartel announcing a production hike even as the new Covid variant threatens demand.
Oil pushes higher as traders weigh omicron risks, OPEC+ meeting
Oil rose as investors weighed risks to the near-term outlook, including the impact of the omicron virus variant and upcoming OPEC+ meeting.
Oil rebounds after rout as traders size up threat from omicron
Oil rebounded from Friday’s omicron-driven rout as traders assessed the risks to global demand from the new variant, and speculation mounted that OPEC+ may decide this week to pause output increases.
Oil steadies as global release of strategic reserves underwhelms
Oil was steady after the biggest gain in two weeks following an announcement by the US of a coordinated release of strategic petroleum reserves (SPR) with other countries that fell short of expectations.
LNG suppliers focus on spot deals in price jump, Gail India says
Liquefied natural gas (LNG) suppliers are limiting the volume they deliver under long-term contracts in favor of higher-priced spot sales, according to GAIL India Ltd., a major LNG buyer.
Oil declines for a second session with focus on Fed stimulus
Oil dropped as the dollar strengthened and investors turned their attention to a Federal Reserve meeting this week that’s expected to signal moving toward scaling back stimulus.
North Sea infrastructure could get fresh lease on life with hydrogen production
A new report has examined how ageing North Sea infrastructure could be repurposed for wind-powered hydrogen production.
Oil set for weekly gain with focus turning to stimulus and storm
Oil headed for the best weekly gain since October as focus shifted to the US stimulus outlook and a storm menacing the Gulf of Mexico.
Oil extends gain after rally with investors looking past delta
Oil extended gains after jumping more than 5% amid a broader marker rally, despite the Covid-19 resurgence clouding the economic outlook.
Oil slumps to lowest since May after fed signals taper this year
Oil slumped below $65 a barrel to the lowest level since May as the US Federal Reserve signalled it was set to start tapering asset purchases within months, hurting commodities and supporting the dollar.
Crude oil steadies after three-day slump driven by delta threat
Oil steadied after a three-day slide that was driven by the growing threat to demand from the spread of the delta coronavirus variant.
Oil steadies as investors bet demand rebound can withstand delta
Oil steadied after a two-day advance as investors bet the global demand recovery will remain intact despite the latest wave of Covid-19 that’s led to tighter restrictions on movement in many countries.
Oil steady near three-week low as traders assess demand outlook
Oil steadied near a three-week low as the rapid global spread of the delta virus variant prompted a reassessment of the demand outlook.
Oil closes out wild week with rally intact as bulls fight back
Oil held the bulk of a three-day advance to trade above $71 a barrel amid optimism that rising demand will tighten the global market.
Brent steadies near 8-week low after market selloff on Delta
Brent oil was steady after tumbling to an eight-week low amid a broader market rout stoked by a Covid-19 resurgence, which has raised concerns about the short-term outlook for energy demand.