WTI

Oil prices slip on surprise build in U.S. crude stocks

Oil prices were lower on Wednesday after industry data showed a surprise build in U.S. crude stocks last week as a deep freeze in the southern states curbed demand from refineries that were forced to shut. Crude stockpiles rose by 1 …

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Brent crude surpasses $65 per barrel

The price of futures contracts of Brent crude oil for April 2021 on London’s ICE went up by 1.2%, reaching $65.12 per barrel, according to the trading data as of 04:01 Moscow time. This is the first time the price of Brent has …

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Oil prices extend rally on Texas supply disruptions

Oil prices advanced further on Wednesday, underpinned by major supply disruption in the south of the United States this week, caused by a historic winter storm in Texas. U.S. West Texas Intermediate (WTI) crude futures rose 41 cents, or …

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Brent crude price exceeds $61

Oil prices rose on Tuesday to their highest level in 13 months supported by supply cuts by major producers and hopes of demand recovery. International benchmark Brent crude was trading up 0.9 percent at $61.08 per barrel, at 7 am Riyadh …

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Brent oil price breaches $60

Oil advanced above $60 a barrel for this first time in more than a year as global supplies tighten and the demand outlook improves with the rollout of Covid-19 vaccines. Futures in London gained as much as 1.2% before easing slightly on …

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Brent oil trades above $59 for barrel

The price of Brent crude futures rose above $59 per barrel for the first time since February 21, 2020, trading data shows on Thursday. As of 10:58 Moscow time (07:58 GMT), April futures for Brent crude were trading up by 0.31% at …

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Oil prices extend rise ahead of storage data

Both benchmark oil contracts were close to their highest in about a year on Wednesday, boosted by a draw in U.S. crude and gasoline stocks, which fuelled demand recovery hopes as OPEC+ has forecast that the market will be in deficit in 2021. …

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Oil prices up over easing of supply glut fears

Oil prices ticked up supported by Saudi Arabia’s pledged production output cut, which came into force as of Feb. 1, soothing investor fears of a supply glut. International benchmark Brent crude was trading at $56.92 per …

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EIA revises crude price forecast higher

The U.S. Energy Information Administration (EIA) revised its crude price forecast higher in its in its monthly Short-Term Energy Outlook amid tightened supply outlooks and upward-trending demand projections. The EIA now expects Brent …

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Brent oil rises to highest since February

Brent oil prices rose on Wednesday to the highest since February after Saudi Arabia agreed to make bigger cuts in output than expected during a meeting with allied producers, while industry data showed U.S. crude stockpiles fell last week. …

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Oil prices up ahead of OPEC+ meeting

Oil prices increased on Monday ahead of an OPEC+ meeting, as the world’s biggest oil producers are expected to keep the production quota in February unchanged amid weak oil demand caused by the global pandemic crisis. …

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Oil up on hopes of recovery in demand

Oil gained more ground on Wednesday as a U.S. coronavirus fiscal aid package and a decline in crude oil inventories lifted prices. Brent crude futures rose 19 cents, or 0.4%, to $51.28 a barrel, by 0255 GMT and WTI crude rose 29 …

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Oil price falls below $50 again

Oil prices tumbled by $3 on Monday, their biggest daily fall since June, 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 …

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Covid-19 vaccine to help oil?

Pfizer Inc said on Monday its experimental COVID-19 vaccine was more than 90% effective, a major victory in the fight against a pandemic that has killed more than a million people, battered the world’s economy and upended daily life. …

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Oil rises after bigger-than-expected drop in inventories

Oil prices moved higher on Wednesday after an industry report showed that U.S. inventories of crude fell more than analysts expected, bolstering hopes that fuel demand in the world’s biggest economy can weather the coronavirus pandemic. …

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Oil prices snap four-day winning streak

Oil prices fell for the first time in four days on Wednesday, slipping from as much as five-month highs as mounting coronavirus cases worldwide and in the United States undercut market confidence about a potential pickup in fuel demand. …

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