Oil edges lower as investors weigh demand risk from omicron
Oil edged lower amid nervousness around the rapid spread of the omicron virus variant and strength in the dollar.
West Texas Intermediate (WTI)
BP levels sharpest criticism yet of London’s Brent crude oil market
BP said the world’s most important oil benchmark was experiencing ‘regular dislocations,’ in the harshest criticism ever by an oil major about how the price of Brent crude is calculated.
OPEC+ choice to drip-feed oil supply sends price to 7-year high
Oil steadied in Asian trading after rallying to the highest level since 2014 following a decision by OPEC+ to maintain its planned gradual increase of supply, despite the market facing an energy crunch.
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.
Oil extends drop as covid concerns surface ahead of OPEC+ meet
Oil extended losses as a coronavirus resurgence raised concerns about demand ahead of an OPEC+ meeting this week that could see the alliance boost some halted output.
Oil rally drives brent toward $75 as market tightens, curbs ease
Oil extended a powerful rally, with global benchmark Brent closing in on $75 a barrel, after data pointed to a substantial draw in US crude stockpiles and top traders predicted further gains in prices.
Oil drops with IEA demand outlook pointing to weakness ahead
Oil declined as investors assessed the International Energy Agency’s reduced forecasts for global oil demand in part due to a slowdown in air travel.
A month after historic crash, situation ‘not nearly as dire’ for US oil prices, experts say
U.S. oil prices aren’t expected to repeat last month’s unprecedented collapse into negative territory, industry experts say, because the nation’s stockpile has slowly decreased, easing a storage crisis, while traders “learned their lesson.”
US oil bounces back after fund switching drives wild gyrations
Oil climbed after losing more than a quarter of its value over the past two days with volatility likely to continue on concern prices may drop below zero again as investors and a major fund exit the June contract.
Oil majors help drive up the FTSE 100
Share price growth for oil majors BP and Shell boosted the FTSE 100 yesterday, with London’s blue-chip index rising 111.1 points, or more than 1.9%, to 5,958.5.
Good day for Brent oil and the FTSE 100
The price of Brent crude has continued to recover today after the oil price rout of earlier this week.
UK North Sea platforms ‘face production shut-ins’ as oil storage fills up
Offshore platforms in the UK North Sea “face the risk of production shut-ins” due to oil storage constraints, according to leading analysts.
‘Cataclysmic’ event needed for Brent Crude oil to go negative like US benchmark
A leading petroleum economist has said it would “require something cataclysmic” for the international oil benchmark to follow that of the US into negative pricing.
Government urged to bring cash to help Aberdeen’s energy transition
The prime minister and first minister have both been urged to announce cash to bolster the north-east energy industry.
US oil price rebounds from record wipeout with prices edging above zero
Oil rebounded in Asian trading, after plunging below zero for the first time in history amid rapidly filling American storage tanks, as the U.S. benchmark’s May contract entered its final trading session.
US oil spirals below zero in ‘devastating day’ for global industry
The day started like any other gloomy Monday in the oil market’s worst crisis in a generation. It ended with prices falling below zero, thrusting markets into a parallel universe where traders were willing to pay $40 a barrel just to get somebody to take crude off their hands.
US oil prices plunge to 21-year low, Brent more resilient
Oil extended its slide, falling to the lowest in more than two decades, on concern the world is rapidly running out of places to store crude after output cuts proved insufficient to cope with plunging demand.