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Oil prices rise on stronger economic outlook

Oil prices edged higher on Wednesday on the prospects for stronger global economic growth amid increased COVID-19 vaccinations and a report that crude inventories in the United States, the world’s biggest fuel consumer, fell. But …

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Brent futures climb to $64.98/bbl

Brent oil futures with delivery in June 2021 soared 3.6% to $64.98 a barrel on the London-based ICE on Thursday, according to market data. Brent oil prices are growing after the decision of OPEC+ to boost oil production since May …

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Suez Canal blockage stops global oil supplies

The trade of at least $400 million of crude oil as well as liquefied natural gas (LNG), refined fuels and containers full of goods have come to a standstill in one of the world’s key shipping routes, with millions of dollars more at risk …

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Oil steadies after sell-off as demand doubts persist

Oil prices steadied on Friday, but were down 8% for the week, after an overnight sell-off as a new wave of coronavirus infections across Europe triggered fresh lockdowns and dampened expectations of any imminent recovery in fuel demand. …

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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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