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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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Oil falls on fears of glut as OPEC+ set to boost output

Oil prices fell on Monday on oversupply worries as OPEC and its allies are set to wind back output cuts in August and a rise in worldwide COVID-19 cases points to a slower pick-up in demand. Brent crude futures slid 27 cents, or …

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Oil slips as US-China friction

Oil prices edged lower on Monday as rising coronavirus cases and tensions between the United States and China pushed investors toward safe-haven assets. Brent crude dipped 8 cents, or 0.2%, to $43.26 a barrel by 04:03 GMT, while …

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Oil prices down with rise in U.S. crude stocks

Oil prices were down on Thursday with a surprise increase in U.S. crude oil stocks, signaling that oil demand could remain weak in the world's largest oil-consuming nation. International benchmark Brent crude was trading at …

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Oil prices gain on fall in crude stockpiles

Oil prices rose on Thursday, reversing early losses, as a sharp drop in oil stockpiles outweighed concerns that a spike in U.S. coronavirus infections and revived lockdown measures in California could stall a recovery in fuel demand. …

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