Tag: BRENT

Oil prices gain 1%, boosted by US economic data

Oil prices rose 1%, bolstered by strong U.S. economic data that offset investors’ concerns about the potential for a rise in Iranian supplies

Oil prices rise but India coronavirus cases weigh

Brent crude oil futures were up 66 cents, or 1%, at $67.71 a barrel by 0957 GMT and West Texas Intermediate (WTI) crude was up 63 cents, or 1%, at $64.45

Oil gains after cyberattack forces shutdown of US fuel pipelines

Oil rose after a cyberattack forced the shutdown of major fuel pipelines in the United States and raised concerns about supply disruption, outweighing rising coronavirus cases in Asia

India demand worries knock oil prices from six-week highs

Oil prices slipped, taking a breather after touching their highest in six weeks as concerns of wider lockdowns in India and Brazil to curb the COVID-19 pandemic offset a bullish outlook on summer fuel demand and the economic recovery

Oil falls on India’s COVID surge, supply increase

Oil fell on fears that surging COVID-19 cases in India will dent fuel demand in the world’s third-biggest oil importer, while the end of a force majeure on exports from a Libyan terminal and an expected supply increase from OPEC+ added to pressure

Oil rises to $67, heads for weekly gain on demand hopes

Oil rose to $67 a barrel and was heading for a weekly gain as a stronger demand outlook and signs of economic recovery in China and the United States offset rising COVID-19 infections in some other major economies

Oil rebounds on robust economic data

Strong economic data from China and the United States helped to lift oil prices, recouping some of the previous session’s losses, as coronavirus-led volatility continues to dominate

Oil rises as Suez Canal ship runs aground, European lockdowns weigh

Oil rose more than 2% after a ship ran aground in the Suez Canal raising supply concerns, although fears of a slow recovery in demand due to European lockdowns limited gains

Oil prices rise on economic outlook, drawdown in fuel stocks

Oil prices rose on a weaker dollar as fears of rising US inflation eased while a steep fall in US fuel stocks meant a crude glut would be short-lived as refiners restart in Texas after last month’s freeze

Brent hits $70 for first time since pandemic began

Oil prices climbed above $70 a barrel for the first time since the start of the coronavirus crisis, after the US Senate passed a $1.9 trillion economic stimulus package and a Yemeni group attacked Saudi Arabia’s oil industry