Oil Prices Slip On US Crude Build, China Demand Worries

Oil prices fell on Thursday, extending losses from the previous session, as signals of higher supply from the United States met worries about lackluster energy demand from China. Brent futures were down 48 cents at $80.70 a barrel at 0630 GMT. U.S. West Texas Intermediate crude (WTI) shed 53...

Oil Prices Slip on US Crude Build and China Demand Worries

Oil prices edged lower on Thursday, extending losses from the previous session as signals of higher supply from the United States met concern over lacklustre energy demand from China. Brent futures were down 23 cents at $80.95 a barrel by 1101 GMT. U.S. West Texas Intermediate crude (WTI) shed 27...

Oil Prices Slip On Global Demand Woes, China Gloom

Oil prices slipped on Tuesday as fresh services data added to gloom over the state of the global economy, particularly China's stuttering post-pandemic recovery, although expectations of an extension in supply cuts by leading OPEC+ producers limited losses. By 1218 GMT, Brent crude futures for...

Oil Prices Slip from Highs; Middle East Tensions, Steady OPEC Output Offer Support

Oil prices edged lower Thursday, retreating slightly from five-month highs after worsening geopolitical conditions in the Middle East presented more potential supply disruptions. At 05:55 ET (09:55 GMT), West Texas Intermediate crude futures fell 0.1% to $85.39 a barrel, while Brent oil futures...

Oil Prices Slip as Demand Outlook Overshadows Middle East Conflict

Oil prices were slipping early Tuesday as concerns that energy demand will weaken outweighed worries about attacks on tanker ships in the Red Sea. West Texas Intermediate, the U.S. benchmark, retreated 0.6%% to $72.24 a barrel. Brent crude, the international standard, declined 0.3% to $77.94 a...

Oil Prices Slide on signs of Bumper Build in US Inventories

Oil prices fell Wednesday after industry data showed a surprise, outsized build in U.S. crude stocks, challenging the notion of tighter markets in the near-term. At 09:00 ET (13:00 GMT), Brent oil futures expiring in May fell 0.8% to $85.55 a barrel, while West Texas Intermediate crude futures...

Oil Prices Slide as Hopes for China Demand Rebound Fade

Oil prices fell more than $1 a barrel on Monday after Chinese officials on the weekend reiterated their commitment to a strict COVID containment approach, dashing hopes of an oil demand rebound at the world's top crude importer. Brent crude futures dropped $1.20, or 1.2%, to $97.37 a barrel by...

Oil Prices Set for Weekly Gain on U.S. Growth and Middle East Concerns

Oil prices eased on Friday but remained on course for a second consecutive weekly gain, supported by positive U.S. economic growth and Middle East supply concerns. The United States, the world's biggest oil consumer, registered faster than expected economic growth in the fourth quarter, data...

Oil Prices Set For Sixth Weekly Gain On Pledged Output Cuts

Oil prices rose for a second day on Friday, set for their sixth week of gains, after Saudi Arabia and Russia, the world's second and third-largest crude producers, pledged to cut output through next month. Brent crude futures for October rose 2 cents to $85.16 a barrel by 0609 GMT, while U.S....

Oil Prices Set For 5% Weekly Drop on U.S. Rate Hike Jitters

Oil fell for a fourth session on Friday, heading for its biggest weekly loss in five weeks on worries about the prospect of steep interest rate hikes in the United States hitting fuel demand. Brent dipped 41 cents, or 0.5%, to $81.18 a barrel by 0852 GMT. U.S. West Texas Intermediate crude (WTI)...

Oil Prices Set For 5% Weekly Drop on U.S. Rate Hike Jitters

Oil fell for a fourth session on Friday, heading for its biggest weekly loss in five weeks on worries about the prospect of steep interest rate hikes in the United States hitting fuel demand. Brent dipped 63 cents, or 0.8%, to $80.96 a barrel by 1140 GMT. U.S. West Texas Intermediate crude (WTI)...

Oil Prices Rise On Tighter Supply, China Hopes

Oil prices edged higher for the third straight session on Tuesday, as signs of tighter supplies and pledges by Chinese authorities to shore up the world's second-biggest economy lifted sentiment. Brent futures gained 22 cents, or 0.3%, to $82.96 a barrel by 0253 GMT, while U.S. West Texas...

Oil Prices Rise on Supply Deficit Concerns

Oil prices rose in early trade on Tuesday for the fourth consecutive session, as weak shale output in the U.S. spurred further concerns about a supply deficit stemming from extended production cuts by Saudi Arabia and Russia. U.S. West Texas Intermediate crude futures rose 90 cents, or 1%, to...

Oil Prices Rise on Solid China growth, Middle East Tensions

Oil prices rose on Tuesday as the Chinese economy grew faster than expected, while heightened tensions in the Middle East also kept markets on edge after Israel said it would respond to Iran's weekend missile and drone attack. Brent futures for June delivery rose 48 cents, or 0.5%, to $90.58 a...

Oil Prices Rise On Softer U.S. Dollar, Supply Woes

Oil prices climbed on Tuesday, bolstered by a weaker U.S. dollar and supply woes, although gains were capped by the spectre of lower fuel demand from China as it persists with its stringent zero-COVID policy. Brent crude futures rose 74 cents, or 0.8%, to $92.36 per barrel by 0505 GMT, while U.S....

Oil Prices Rise On Large US Stockpile Draw, Hurricane Jitters

Oil prices extended gains on Wednesday after industry data showed a large draw in crude inventories in the U.S., the world's biggest fuel consumer, and as concerns about a hurricane in the Gulf of Mexico kept investors on edge. Brent crude futures for October rose 17 cents, or 0.2%, to $85.66 a...

Oil Prices Rise on Expectations Higher Demand is on the Way

Oil prices rose for a third-straight day early on Friday, continuing to recover from near six-month lows on hopes for recovering demand. West Texas Intermediate crude for January delivery was last seen up US$0.55 to US$72.13, while February Brent crude, the global benchmark, was up US$0.52 to...

Oil Prices Rise as Supply Outlook Tightens; Gaza Ceasefire Unlikely

Oil prices rose Monday on heightened supply concerns, amid easing expectations of an Israel-Hamas ceasefire was imminent and as hostilities intensified between Russia and Ukraine. At 08:45 ET (12:45 GMT), Brent oil futures rose 0.4% to $85.13 a barrel, while West Texas Intermediate crude futures...

Oil Prices Rise As Much As $1 On Concerns Over Tightening Supply

Oil prices pared their gains on Wednesday but were still solidly bid, after U.S. inventories and fuel supplies tightened and as a warning from the Saudi energy minister to speculators raised the prospect of further OPEC+ output cuts. Brent crude futures last rose 74 cents, or 1%, to $77.58 a...

Oil Prices Rise as Industry Data Shows Big Drop in Crude Inventories

Oil futures rose early Wednesday, finding support after industry data showed a large draw to U.S. crude inventories. Traders were also monitoring Hurricane Idalia; and Gabon — one of Africa’s largest oil producers and a member of the Organization of the Petroleum Exporting Countries, or OPEC —...

Oil Prices Rise As Industry Data Show Big Drop In U.S. Crude Inventories

Oil futures rose Wednesday morning, finding support after industry data was said to show another large drop in U.S. crude inventories, while investors looked for signs of an easing of China’s COVID restrictions and awaited a meeting this weekend of OPEC+ ministers. West Texas Intermediate crude...

Oil Prices Rise As Congress Approves US Debt Ceiling Bill

Oil prices rose on Friday amid bullish sentiment following the passage of a U.S. debt ceiling bill in Washington, while markets weighed the likelihood of price-supportive OPEC+ production cuts over the weekend. Brent crude futures rose 71 cents, or 0.96% to $74.99 a barrel by 0600 GMT, while U.S....

Oil Prices Rise as China Factory Bounce Boosts Demand Outlook

Oil prices extended gains for a second session on Wednesday after a strong jump in manufacturing in China, the world's top crude importer, boosted the outlook for global fuel demand. Brent crude futures for May rose 46 cents, 0.6%, to $83.91 a barrel at 0445 GMT. U.S. West Texas Intermediate...

Oil Prices Rise Amid Concerns About Red Sea Attacks on Shipping

Oil prices on Tuesday built on gains made a day earlier amid attacks on shipping in the Red Sea that have exacerbated supply worries. Brent crude futures rose 36 cents, or 0.44%, to $82.89 a barrel by 0745 GMT, while U.S. West Texas Intermediate crude futures (WTI) were up 31 cents, or 0.40%, to...

Oil Prices Rise After U.S. Debt Deal, All Eyes On OPEC Meeting

Oil prices rose on Friday after a U.S. debt ceiling deal averted a default in the world's biggest oil consumer, while attention turned to a meeting of OPEC ministers and their allies at the weekend. Brent crude futures were up $1.21, or 1.6% to $75.49 a barrel by 1134 GMT, while U.S. West Texas...

Oil Prices Rise After OPEC+ Keeps Output Cut Targets, China Eases COVID Curbs

Oil prices edged up on Monday after OPEC+ nations held their output targets steady ahead of a European Union ban and a price cap kicking in on Russian crude. At the same time, in a positive sign for fuel demand, more Chinese cities eased COVID-19 curbs over the weekend, though the partial easing...

Oil Prices Rise after 4th Straight Weekly Gain

Oil futures rose early Monday, looking to build on a fourth straight weekly rise on expectations crude supplies will tighten in the second half of the year. West Texas Intermediate crude for September delivery rose 39 cents, or 0.5%, to $81.46 a barrel on the New York Mercantile Exchange....

Oil Prices Rise 1% on Flaring Middle East Tensions

Oil prices rose by around 1% on Tuesday, as investors weighed the impact of tensions in the Middle East. Brent crude futures gained 81 cents, or about 1.04%, to $78.96 a barrel at 1333 GMT. The contract had lost 14 cents on Monday. U.S. West Texas Intermediate crude was up 41 cents, or 0.56%,...

Oil Prices Retreat after Weak China Data

Oil futures fell Monday, kicking off the week on a negative note after data on China’s economic growth fell short of expectations. West Texas Intermediate crude for August delivery fell $1.04, or 1.4%, to $74.38 a barrel on the New York Mercantile Exchange. September Brent crude, the global...

Oil Prices Remain Elevated as Hamas Attack on Israel Raises Supply Concerns

Oil prices climbed on Monday, as traders assessed implications for crude supplies after a surprise, deadly attack by Hamas on Israel over the weekend. West Texas Intermediate crude for November delivery rose $2.90, or 3.5%, to $85.69 a barrel on the New York Stock Exchange. December Brent crude,...

Oil Prices Recoup Losses after OPEC Upgrades China Demand Outlook

Oil prices rebounded more than 1% on Wednesday, recovering from the previous day's fall, after OPEC's upwards revision for Chinese consumption offset bearish global investor sentiment trigged by U.S. bank failures. Brent crude futures climbed $1.04, or 1.3%, to $78.49 a barrel by 0710 GMT. U.S....

Oil Prices Pull Back from December Highs as Traders Monitor Red Sea Developments

Oil futures pulled back from December highs early Wednesday as investors continued to monitor developments in the Red Sea amid worries over potential disruptions to crude shipments. West Texas Intermediate crude for February delivery fell 53 cents, or 0.7%, to $75.04 a barrel on the New York...

Oil Prices Pull Back from 3-Month Highs Ahead of Fed Decision

Oil futures fell early Wednesday as investors awaited a Federal Reserve policy decision and official data on U.S. inventories of crude and petroleum products. West Texas Intermediate crude for September delivery fell 81 cents, or 1%, to $78.82 a barrel on the New York Mercantile...

Oil Prices Pull Back from 2023 Highs

Oil futures edged lower early Wednesday, pulling back a day after ending at 2023 highs following the extension of supply cuts by Saudi Arabia and Russia. West Texas Intermediate crude for October delivery fell 28 cents, or 0.3%, to $86.41 a barrel on the New York Mercantile Exchange. November...

Oil Prices Pull Back After Industry Data Shows Large Rise in U.S. Crude Stocks

Oil futures fell Wednesday after industry data showed a large rise in U.S. crude inventories last week ahead of official government figures. Meanwhile, OPEC+, made up of the Organization of the Petroleum Exporting Countries and its allies, including Russia, was weighing an extension of voluntary...

Oil Prices Open Lower on Demand Concerns, Remain on Track for Weekly Gain

Oil prices fell in early Asian trade on Friday as demand concerns weighed against strong economic data. Brent crude fell 59 cents, or 0.7%, to $83.65 a barrel by 0027 GMT, but was on track for a weekly 5% increase. U.S. West Texas Intermediate (WTI) crude fell 51 cents, or 0.6%, to $79.58 a...

Oil Prices on Track for Largest Monthly Gain in Over a Year

Oil futures rose early Monday, with both Brent and West Texas Intermediate crude on track for big monthly advances following strong economic data. West Texas Intermediate crude for September delivery rose 77 cents, or 1%, to $81.35 a barrel on the New York Mercantile Exchange. September Brent...

Oil Prices on Track for First Weekly Rise in Two Months

Oil prices rose on Friday, on track to notch their first weekly rise in two months after benefiting from a bullish forecast from the International Energy Agency (IEA) on oil demand for next year and a weaker dollar. Brent futures rose 21 cents to $76.82 a barrel at 0918 GMT. U.S. West Texas...

Oil Prices on Track for Big Weekly Fall as Focus Shifts to Demand Fears

Oil futures traded near unchanged early Friday, but were on track for big weekly declines as investors shifted their focus away from tightening supplies after signs a surge toward $100 a barrel was destroying demand. A surge in bond yields, with long-term Treasury rates hitting 16-year highs,...

Oil Prices Near Flat as Demand Worries Offset Middle East Risk

Oil prices were little changed on Tuesday for a second straight day as uncertainty about the pace of potential U.S. interest rate cuts and the impact on fuel demand offset worries about Middle East tensions that could disrupt supply. Brent futures edged 1 cent lower $81.99 a barrel. U.S. West...

Oil Prices Muted Amid Doubts Over China Demand, U.S. Rate Outlook

Oil prices kept to a tight range on Tuesday after a weak start to the week, as investors weighed the prospect of softer Chinese demand after a disappointing interest rate cut, while also awaiting more signals on U.S. monetary policy. The prospect of tighter markets this year, especially following...

Oil Prices Mixed As China Economic Woes Offset Expected Supply Cuts

Oil prices were mixed on Tuesday as data showing China's economy was still struggling with a post-pandemic recovery offset expectations of an extension in supply cuts by leading OPEC+ members Saudi Arabia and Russia. Brent crude futures for November fell 26 cents, or 0.29%, to $88.74 a barrel....

Oil Prices Mark First Gain in 4 Sessions as a Modest Slowdown in U.S. Inflation Helps Weaken The Dollar

Oil futures ended higher on Thursday for the first time in four sessions, as U.S. data revealed signs of easing inflation, prompting a pullback in the dollar and raising the potential for the Federal Reserve to scale back the size of its interest-rate hikes. Prices for oil, however, remained...

Oil Prices Lower as Russia Plays Down Prospect for Additional OPEC+ Production Cuts

Oil futures lost ground Thursday after a top Russian official played down the prospect of additional production cuts when OPEC+ meets early next month. Crude prices were lifted earlier this week, with support tied in part to remarks by Saudi Arabia’s top energy official that were taken as a...

Oil Prices Log Back-To-Back Losses As Investors Assess China Demand Outlook

Oil futures finished lower on Tuesday for a second straight session in a row, as investors remained uncertain about the outlook for crude demand from China. West Texas Intermediate crude for December delivery fell $2.88, or 3.1%, to settle at $88.91 a barrel on the New York Mercantile Exchange...

Oil Prices Jump on Signs of Tightening Supply

Oil prices jumped to their highest levels in more than three months on Wednesday after a report that U.S. inventories fell sharply last week. Brent crude futures, the international benchmark, climbed above $85 a barrel early Wednesday—reaching the highest level in more than three months. At last...

Oil Prices Inch Up as Recession Fears Begin to Fade

Oil prices rose slightly in early Asian trade on Monday as fears of a recession in the U.S., which drove prices down for three straight weeks for the first time since November, began to recede. Brent crude futures were up 6 cents at $75.36 a barrel at 0022 GMT. U.S. West Texas Intermediate (WTI)...

Oil prices hover near 10-month high on supply concerns

Oil prices edged higher on Wednesday, hovering at a new 10-month high hit the previous day, as expectations of tighter global supply and fears of supply disruption in Libya outweighed concerns of slower demand in some countries such as China. The international benchmark Brent futures rose 8...

Oil Prices Hold Steady, Russia Rolls Back Diesel Export Ban

Oil prices were stable on Friday but were on course for a week-on-week loss, as demand fears driven by macroeconomic headwinds were compounded by another partial lifting of Russia's fuel export ban on Friday. On Friday, Brent futures were up 15 cents, or 0.18%, at $84.22 at 0817 GMT, while U.S....

Oil Prices Hit 5-Mth Low Before The Fed; US Inventories Offer Little Cheer

Oil prices fell further in Asian trade on Wednesday, hitting five month lows as traders hunkered down before the final Federal Reserve meeting for the year, while signs of a draw in U.S. inventories offered little support. Concerns over weaker demand, looser supplies and higher-for-longer...

Oil Prices Higher on Fed Comments on Inflation, Middle East Tensions

Oil prices edged higher on Friday after minutes from a Federal Reserve meeting suggested inflation was under control and as U.S. Secretary of State Antony Blinken prepared to visit the Middle East to prevent escalation in the Israel-Gaza conflict. Brent crude futures were up 37 cents, or 0.5%, to...

Oil Prices Head For Fourth Straight Week Of Declines As Supply Grows

Oil prices were little changed on Friday but on track for their fourth straight week of losses after tumbling about 5% to a four month-low on Thursday on worries over global demand. Brent futures edged up 7 cents, or 0.1%, to $77.49 a barrel at 0702 GMT. U.S. West Texas Intermediate crude (WTI)...

Oil Prices Gain Around 1% as Red Sea Tension Persists

Oil prices rose as much as 1% on Friday as tensions persisted in the Middle East following Houthi attacks on ships in the Red Sea, although Angola's decision to leave OPEC raised questions over the group's effectiveness in supporting prices. Brent crude futures were up 71 cents, or 0.89%, to...

Oil Prices Firm On Upbeat Demand Growth Forecasts

Oil prices gained ground on Friday amid optimistic demand forecasts from the OPEC producer group and the International Energy Agency (IEA). Brent crude was up 49 cents, or 0.6%, at $86.89 a barrel at 1118 GMT while U.S. West Texas Intermediate (WTI) crude futures were up 49 cents, or 0.6%, at...

Oil Prices Firm as Middle East Tensions Heat Up

Oil prices rose on Thursday after an oil tanker was boarded by an armed group in Oman, raising the prospect of escalating conflict in the Middle East. Brent crude futures gained $1.33, or 1.7%, to $78.13 a barrel and U.S. West Texas Intermediate crude futures rose $1.30, or 1.8%, to $72.66,...

Oil Prices Finish Higher After Deadly Blasts In Iran

Oil futures settled higher Wednesday after reports of fatalities following explosions at a ceremony held to mark the four-year death anniversary of an Iranian military officer. Oil prices also found support on the back of reports that Libya’s largest oilfield has been shut down due to...

Oil Prices Fall on Fears of Economic Slowdown

Oil prices edged lower on Tuesday on fears of an economic slowdown and lower fuel demand from China as it persists with its stringent zero-COVID policy. Brent crude futures fell 41 cents, or 0.45%, to $91.21 a barrel by 0948 GMT while U.S. West Texas Intermediate (WTI) crude futures fell 41...

Oil Prices Fall for a Second Day as US Crude Inventories Increase

Oil prices fell for a second day on Wednesday after a report that crude stockpiles in the United States, the world's biggest oil user, surged and on signs major producers are unlikely to change their output policy at a technical meeting next week. Brent crude futures for May dropped 83 cents, or...

Oil Prices Fall As Weak China Trade Data Offsets Supply Concerns

Oil prices slipped on Tuesday after data showed China's imports and exports fell much more than expected in July in a further sign of weak growth in the world's largest oil importer, although losses were limited by expected supply tightness. Brent crude futures were at $85.05 a barrel, down by 29...

Oil Prices Fall As Traders Monitor Rising Tensions In Red Sea

Oil prices fell Tuesday as traders monitored rising tensions in the Red Sea amid a backdrop of record U.S. crude production and worries about demand in China. The West Texas Intermediate contract for February lost $1.27, or 1.77%, to settle at $70.38 a barrel. The Brent contract for March shed...

Oil Prices Fall As SVB Collapse Rocks Financial Markets

Oil prices fell more than $1 on Tuesday, extending the previous day's slide, as the collapse of Silicon Valley Bank rattled equities markets and sparked fear about a fresh financial crisis. Brent crude futures were down 82 cents, or 1%, at $79.95 a barrel at 0700 GMT. U.S. West Texas Intermediate...

Oil Prices Fall As Stronger Dollar Offsets Red Sea Disruptions Risks

Oil prices fell on Wednesday as a stronger U.S. dollar limited demand for greenback-denominated crude, though the rising risks of supply disruptions amid the intensifying conflict in the Red Sea curbed the losses. Global benchmark Brent crude futures fell 36 cents, or 0.5%, to $77.93 a barrel by...

Oil Prices Fall after Iran Attack as Market Draws Down Risk Premium

Oil prices fell during trade on Monday, as market participants dialled back risk premiums following Iran's attack on Israel late on Saturday which the Israeli government said caused limited damage. Brent futures for June delivery fell 20 cents, or 0.2%, to $90.25 a barrel while West Texas...

Oil Prices Extend Slide as Traders Assess Demand Outlook

Oil futures fell early Monday, extending the previous week’s decline as traders fretted about the global outlook for demand as expectations central banks will begin cutting rates soon continued to fade. West Texas Intermediate crude for April delivery fell 18 cents, or 0.2%, to $76.31 a barrel on...

Oil Prices Erase 2022 Gains As China Protests Spark Demand Worries

Oil prices fell to near their lowest levels this year on Monday as street protests against strict COVID-19 curbs in China, the world's biggest crude importer, stoked concern about the outlook for fuel demand. Brent crude dropped $2.66, or 3.1%, to trade at $80.97 a barrel at 1000 GMT, after...

Oil Prices End Lower On Rise In U.S. Crude Supplies, Worries Over Chinese Demand

Oil futures ended lower on Wednesday, logging a third straight session decline, with prices pressured by a weekly climb in U.S. crude supplies and ongoing concerns over the impact of China’s zero COVID policy on that country’s demand for oil. U.S. benchmark West Texas Intermediate crude for...

Oil Prices End Higher For The Session, Down For The Week

Oil futures finished higher on Friday, lifted by weakness in the U.S. dollar and moves by China to ease some COVID-19 restrictions, but prices still ended lower for the week on uncertainty surrounding Chinese energy demand. Still, weakening of the U.S. dollar and easing of inflation reported this...

Oil Prices Edge Up On Optimism Over China's Reopening

Oil prices rose as much as $1 on Friday, extending gains from the previous session, supported by hopes of a China demand boost and after data showed lower U.S. fuel inventories following a winter storm that hit at the end of the year. Brent crude futures were 75 cents, or 1%, higher at $79.44 a...

Oil Prices Edge Up As Softer Dollar Outweighs China Demand Concerns

Oil prices inched higher on Tuesday as the dollar eased, but global recession worries and concerns about China's rising COVID-19 case numbers denting demand from the world's top crude oil importer weighed on sentiment. Brent crude futures rose 44 cents, or 0.5%, to $87.89 by 0513 GMT. U.S. West...

Oil Prices Edge Lower, Extending Drop after Fitch Downgrade Rattles Markets

Oil futures were slightly lower early Thursday, extending a decline after a downgrade of the U.S. credit rating dented sentiment across markets, offsetting a record drop in U.S. crude inventories. West Texas Intermediate crude for September delivery was down 23 cents, or 0.3%, at $79.26 a barrel...

Oil Prices Edge Lower on China Demand Worries

Oil futures edged lower early Tuesday, unable to shake worries about China’s economic outlook and the implications for demand from the world’s second-largest crude consumer. West Texas Intermediate crude for September delivery fell 18 cents, or 0.2%, to $80.54 a barrel on the New York Mercantile...

Oil Prices Edge Lower as Traders Monitor Middle East Tensions

Oil futures moved lower early Tuesday as U.S. traders prepared to return from the Presidents Day holiday weekend, while downside was seen limited by continued worries over the Middle East as Iran-backed Houthi rebels continued to attack cargo ships. West Texas Intermediate crude for March...

Oil Prices Edge Lower after Surprise Build in U.S. Crude, Gasoline Stockpiles

Oil prices slipped in early trade on Wednesday after industry data showed a surprise build in U.S. crude stocks, while investors awaited U.S. inflation data for April that could give direction for the Federal Reserve's next rate decision. Brent crude dropped 16 cents to $77.28 a barrel at 0008...

Oil Prices Edge Higher, Growth Worries Limit Gains

Oil prices rose on Monday from an 8% drop last week on supply concerns, but was still trading near three-week lows, driven by worries that slower growth in major economies may limit fuel use. Brent crude futures rose 86 cents, or 1.08%, to $80.81 a barrel, while U.S. West Texas Intermediate (WTI)...

Oil Prices Edge Higher as Traders Monitor Hurricane Idalia

Oil futures edged higher early Tuesday as Idalia strengthened into a hurricane that is expected to make landfall in Florida within a day. West Texas Intermediate crude for October delivery rose 56 cents, or 0.7%, to $80.66 a barrel on the New York Mercantile Exchange. October Brent crude, the...

Oil Prices Edge Higher After Russia’s Short-Lived Wagner Mutiny

Oil futures edged higher early Monday, as traders largely took in stride a short-lived mutiny by Russia’s Wagner Group that raised questions about President Vladimir Putin’s grasp on power. West Texas Intermediate crude for August delivery rose 28 cents, or 0.4%, to $69.44 a barrel on the New...

Oil Prices Edge Higher After Briefly Erasing Israel-Gaza Fear Premium

Oil futures bounced higher early Thursday, after traders briefly priced out most of the fear premium added to the U.S. benchmark earlier this week after the surprise Hamas attack on Israel. West Texas Intermediate crude for November delivery rose 69 cents, or 0.8%, to $84.18 a barrel on the New...

Oil Prices Edge Down With Investors Still Wary

Oil prices dipped on Monday as worries persisted around crude oversupply despite OPEC+ cuts and softer fuel demand growth next year. Brent crude futures fell 43 cents to $75.41 a barrel by 1221 GMT. U.S. West Texas Intermediate crude futures were down 47 cents at $70.76. Both contracts jumped...

Oil Prices Edge Down as Russia Lifts Supplies, Jet Fuel Demand Stirs Caution

Oil prices edged down early on Tuesday after gaining in the previous trading session, due in part to the prospect of rising supply from Russia as well as the possibility of slower-than-expected downstream demand in sectors such as jet fuel. The Brent crude oil futures contract for May delivery...

Oil Prices Ease But Supply Cuts Keep Brent Above $90/Bbl

Oil prices eased on Monday as a stronger U.S. dollar and economic concerns in China weighed on the outlook for fuel demand, but extended supply cuts by Saudi Arabia and Russia helped keep Brent above $90 a barrel. Brent crude fell 15 cents, or 0.2%, to $90.50 a barrel by 0644 GMT, while U.S. West...

Oil Prices Ease As Market Awaits China Data To Gauge Demand

Oil prices eased on Tuesday, giving up most of the gains from the previous day, on concerns over weak demand in China, with investors focusing on trade data due later in the day to gauge demand from the world's second-largest oil consumer. Brent crude futures fell 23 cents, or 0.3%, to $84.95 a...

Oil Prices Ease As Investors Assess Risks Of Israel-Hamas War

Oil prices slipped on Monday after surging last week, with investors waiting to see if the Israel-Hamas conflict draws in other countries - a development that would potentially drive up prices further and deal a fresh blow to the global economy. Brent futures were last down 33 cents, or 0.4%, at...

Oil Prices Dip, Pausing After Previous Session's Surge

Oil prices edged lower in early trade on Friday, taking a pause from the previous session when futures gained steeply on optimism around higher energy demand from top crude importer China. Brent futures dipped 13 cents to $75.54 a barrel by 00:08 GMT, while U.S. West Texas Intermediate (WTI)...

Oil Prices Dip as Demand Concerns Outweigh Middle East Supply Fears

Oil prices extended losses in early trade on Wednesday as worries about global demand due to weak economic momentum in China and a likely rise in U.S. commercial stockpiles outweighed supply fears from heightened tensions in the Middle East. Brent futures for June slipped 56 cents, or 0.62%, to...

Oil Prices Continue Slump In Fallout From SVB Shutdown

Oil prices dropped more than $2 a barrel on Tuesday, extending the previous day's slide, as the collapse of Silicon Valley Bank rattled equities markets and sparked fear about a fresh financial crisis. Brent crude futures fell $1.07, or 1.3%, to $79.69 barrel. U.S. West Texas Intermediate crude...

Oil Prices Climb Toward 16-Week-High as US Inventories Drop

Signs of a quickly tightening oil market are pushing crude prices toward 16-week-highs, with the US benchmark WTI recently up 0.6% at $81.89 a barrel and the global benchmark Brent 0.5% higher at $85.37. Data late yesterday from trade group API showed US crude-oil inventories dropped last week by...

Oil Prices Climb on Expectations of Lower OPEC+ Exports in August

Oil prices rose on Monday as global supply is tightening with lower exports from Saudi Arabia and Russia, offsetting nagging concerns about global demand growth amid high interest rates. Brent crude climbed 75 cents to $85.55 a barrel by 0301 GMT, while U.S. West Texas Intermediate crude was at...

Oil Prices Broadly Stable as All Eyes on US Debt Talks

Oil prices were broadly stable on Thursday as traders warily watched for signs of progress on talks to raise the U.S. debt ceiling, after surging in the previous session on optimism over U.S. fuel demand. Brent crude futures inched down 13 cents, or 0.2%, to $76.83 a barrel as of 1142 GMT. U.S....

Oil Prices Bounce Back Toward 3-Month Highs

Oil futures rose early Thursday, taking back ground lost the previous session to trade near three-month highs as investors looked for further tightness in global supplies of crude. West Texas Intermediate crude for September delivery rose 67 cents, or 0.8%, to $79.45 a barrel on the New York...

Oil Prices Bounce after 2-Day Rout

Oil futures rose Thursday, bouncing after suffering a two-day rout to begin 2023 on fears of a global economic slowdown and surging COVID cases in China. Investors were also awaiting official storage data after figures from an industry trade group were said to show a rise in U.S. crude and...

Oil Prices At Three-Week Low As Strong Dollar, Rate Hikes Weigh

Oil prices fell to their lowest in about three weeks on Thursday, depressed by a firmer dollar and rate hike expectations which outweighed lower U.S. crude stocks. Brent crude futures were down $1.12, or 1.4%, to trade at $82.00 a barrel at 0819 GMT. West Texas Intermediate crude (WTI) futures...

Oil Prices At Three-Week Low As Firmer Dollar, Rate Hikes Weigh

Oil prices fell to their lowest in about three weeks on Thursday, depressed by a firmer dollar and rate hike expectations which outweighed lower U.S. crude stocks. Brent crude futures were down $1.13, or 1.4%, to trade at $81.99 a barrel at 1141 GMT. West Texas Intermediate crude (WTI) futures...

Oil Prices at 2½-Month Lows as China Data Offset Supply Cuts

Oil prices hit fresh 2½-month lows on Tuesday as mixed economic data from China offset the impact of Saudi Arabia and Russia extending output cuts. Brent crude futures were down $1.42, or 1.7%, to $83.76 a barrel, while U.S. West Texas Intermediate crude was at $79.50 a barrel, down $1.30, or...

Oil prices Advance on Tighter Supply Outlook

Oil prices firmed on Thursday, following two consecutive sessions of decline, as investors saw a tighter supply outlook ahead, while the OPEC+ producer alliance was widely expected to stay the course on its current production cuts. Brent crude futures for May were up 91 cents, or 1.1%, at $87 a...

Oil Prices Advance as Investors Reassess US Inventories Data

Oil prices edged up on Thursday, following two consecutive sessions of decline, as investors reassessed the latest data on U.S. crude oil and gasoline inventories and returned to buying mode. Brent crude futures for May were up 40 cents, or 0.5%, at $86.49 a barrel while the more actively traded...

Oil Powers Toward Fifth Weekly Gain as Market Starts to Tighten

Oil headed for the longest run of weekly gains in more than a year on an improving macroeconomic outlook and signs of a tighter market. West Texas Intermediate edged below $80 a barrel on Friday, but has still rallied more than 3% this week for a fifth consecutive gain. In the...

Oil Powers to Fourth Weekly Advance as Global Market Tightens Up

Oil headed for a fourth straight week of gains, supported by signs of a tightening global market and a weaker dollar. West Texas Intermediate remainder above $82 a barrel, taking its weekly advance to about 2% and the longest winning run since June. The rally had been driven by...

Oil Posts Seventh Weekly Gain Amid Reports of Tighter Market

Oil posted its longest streak of gains since mid-2022 as multiple reports forecasting increased demand gave a fresh boost to a rally built on increased supply-disruption risks and extended Saudi production cuts.  Among the bullish projections was a monthly IEA report on Friday...

Oil Poised for Weekly Gain on Heightened Middle East Tensions

Oil headed for a weekly advance after Prime Minister Benjamin Netanyahu’s dismissal of a potential cease-fire in the Israel-Hamas war heightened risks in the Middle East. Brent crude traded below $82 a barrel, after climbing more than 3% on Thursday, the biggest daily jump in a...

Oil Poised for Second Weekly Decline on Gloomy Demand Outlook

Oil was poised for a weekly loss of almost 8% as concerns over a worsening demand outlook filtered through the crude market. Demand for winter-delivery crude cargoes has slipped from Singapore to Houston, while the forward curve for both major benchmarks has weakened in a sign that...

Oil Plunges to Lowest Since 2021 as China Unrest Rattles Market

Oil tumbled to the lowest level since December as a wave of unrest in China punished risk assets and clouded the outlook for energy demand, adding to stresses in an already-fragile global crude market. West Texas Intermediate sank toward $74 a barrel following three weeks of...

Oil Perks Up After Sharp Week-Long Selloff on Supply, Demand Concerns

Oil prices edged higher on Friday, a day after sinking 5% to a four month-low on growing worries about burgeoning non-OPEC supply and cooling demand. Brent futures rose 80 cents, or about 1%, to $78.22 a barrel at 1057 GMT. U.S. West Texas Intermediate crude (WTI) was at $73.66, up 76 cents, also...

Oil Pares Weekly Loss as Tightening Market Vies With Hawkish Fed

Oil rose, paring a weekly loss driven by the Federal Reserve flagging a further rise in US interest rates this year, which damped appetite for risk assets and overshadowed physical tightness in the crude market. West Texas Intermediate climbed above $90 a barrel on Friday, trimming a...

Oil Pares Second Weekly Decline Before Powell Speaks on Economy

Oil pared some of its second weekly decline as traders were waiting for clues about the outlook for interest rates from a speech later on Friday by Federal Reserve Chair Jerome Powell.  West Texas Intermediate futures rose above $80 a barrel, but are headed for a weekly drop of...

Oil Pares Large Weekly Drop After US Jobs Report Tames Dollar

Oil pared a large weekly loss as US employment figures allayed some concerns of a major hit to global consumption this year.  West Texas Intermediate climbed near $75 a barrel on Friday after the jobs data, but remained down almost 7% this week. Saudi Arabia reduced prices for...

Oil Opens Week With Drop as Traders Await Market Balance Signals

Oil followed a weekly drop with further losses as traders awaited fresh clues about global demand and balances in March and beyond. Brent fell toward $81 a barrel after shedding more than 2% last week, with US counterpart West Texas Intermediate above $76. Outlooks will come this week...

Oil Opens Week Higher as Poland Says Russia Halts Pipeline Flows

Oil opened the week higher as further supply disruptions and optimism over a demand recovery in China overshadowed concerns that the US Federal Reserve will keep raising interest rates to combat inflation. West Texas Intermediate rose toward $77 a barrel after climbing by more than 3%...

Oil On Track For Weekly Gains as Traders Assess Potential for More OPEC+ Production Cuts

Oil futures rose Friday, on track for weekly gains, as investors weighed prospects for further cuts in crude production when the Organization of the Petroleum Exporting Countries and its allies meet next week. West Texas Intermediate crude for July delivery rose 40 cents, or 0.6%, at $72.32 a...

Oil On Track For Sharpest Weekly Decline Since March

Oil prices were on track for their steepest weekly decline since March despite rising in early trade on Friday, on growing worries that higher-for-longer interest rates could stoke a global economic slowdown and curb fuel demand. Both benchmarks had surged to 2023 highs last week, but Brent has...

Oil On Track For Second Week Of Gains On Gaza Contagion Fears

Oil prices extended gains on Friday and were on track for a second week of increases on heightened fears that the Israel-Gaza conflict may spread in the Middle East and disrupt supplies from one of the world's top-producing regions. Brent crude futures climbed 97 cents, or 1.1%, to $93.35 a...

Oil on Track for Fifth Week of Gains

Oil prices were steady on Friday, but on track for a fifth straight week of gains with investors optimistic healthy demand and supply cuts will keep prices buoyant. Risk appetite in wider financial markets has been fuelled by growing expectations that central banks such as the Fed and European...

Oil On Track For Biggest Monthly Gains In Over A Year

Oil prices were set to post their biggest monthly gains in more than a year on Monday, on expectations that Saudi Arabia will extend voluntary output cuts into September and tighten global supply. Brent crude futures slipped 7 cents to $84.92 a barrel by 0819 GMT, while U.S. West Texas...

Oil on Track for 6th Straight Weekly Rise after Supply Cuts

Oil futures rose Friday, on track for a sixth straight weekly gain after Saudi Arabia and Russia said they would extend supply cuts. West Texas Intermediate crude for September delivery rose 50 cents, or 0.6%, to $82.04 a barrel on the New York Mercantile Exchange, on track for a weekly gain of...

Oil On Track For 6% Weekly Tumble On Demand Worries

Oil futures steadied Friday, but were on track for big weekly losses as worries about the economic outlook stoked demand worries. West Texas Intermediate crude for June delivery edged down 4 cents, or less than 0.1%, to $77.33 a barrelon the New York Mercantile Exchange, leaving the U.S....

Oil Nudges Up as Investors Eye Mideast Conflict

Oil prices edged up on Monday as traders watched for supply disruption risks in the Middle East following strikes by U.S. and British forces to stop Houthi militia in Yemen from attacking ships in the Red Sea. Brent crude futures were up 24 cents, or 0.3%, to $78.53 a barrel by 0737 GMT after...

Oil Nudges Higher on Weaker Dollar, Traders Await More Inventory Data

Oil prices extended their two-day winning streak on Wednesday, posting slight gains as the dollar weakened, while investors awaited more inventory data for clearer cues on demand trends. Brent crude futures rose 17 cents, or 0.2%, to $83.86 a barrel by 0740 GMT, after gaining 3.3% in the previous...

Oil Near Highest This Year as Mideast Tensions Stoke Bullishness

Oil edged lower, but remained near the highest level this year as persistent tensions in the Middle East added a risk premium to the market.  Brent crude traded near $83 a barrel after rallying 8% over the past two weeks, while West Texas Intermediate was close to $79. Qatar...

Oil Loses Ground as Traders Weigh China Demand Worries

Oil futures fell early Monday to begin the week as traders weighed the outlook for Chinese demand after a round of lackluster import data and the conclusion of the Communist Party’s national congress. West Texas Intermediate crude for December delivery fell 82 cents, or 1%, to $84.23 a barrel on...

Oil Little Changed, Worries Over Rate Hikes Persist

Oil prices were little changed on Friday as traders remained cautious about frequent and steeper rate hikes by the U.S. Federal Reserve, concerns that have triggered a rout in energy prices over the last three days. Brent futures, which fell about 5% over the last three days, were up marginally...

Oil Little Changed as Risk-Off Mood Vies with Russia Export Ban

Oil steadied as a broad, risk-off sentiment eroded gains driven by Russia’s ban on gasoline and diesel exports, further tightening an already stressed global fuel market. The measures, designed to stabilize Russia’s domestic fuel prices, will remove supplies from the worldwide...

Oil Little Changed as Markets Weigh Russian Supply Woes

Oil was little changed on Tuesday after rising in the previous session as investors took a more mixed view toward the loss of Russian refinery capacity after recent Ukrainian attacks while a slightly weaker U.S. dollar offered some support. Brent crude futures for May slipped 12 cents to $86.63 a...

Oil Languishes Near Five-Month Low After Plunging on Glut Fears

Oil held the bulk of a five-day run of losses that drove prices to the lowest since June on signs that global supplies are eclipsing demand despite plans by OPEC+ to rein in its production into 2024. Global benchmark Brent edged higher toward $75 a barrel after slumping by 11% in the longest...

Oil Languishes Near Five-Month Low After Plunging on Glut Fears

Oil held the bulk of a five-day run of losses that drove prices to the lowest since June on signs that global supplies are eclipsing demand despite plans by OPEC+ to rein in its production into 2024. Global benchmark Brent edged higher toward $75 a barrel after slumping by 11% in the longest...

Oil Jumps as US and UK Launch Airstrikes on Houthis in Yemen

Oil jumped as the US and UK launched airstrikes against Houthi rebel targets in Yemen, raising the risk of a broader conflict across the Middle East that could threaten crude flows. West Texas Intermediate rose as much as 2.4% to approach $74 a barrel. President Joe Biden said the US...

Oil Jumps as US and Allies Launch Airstrikes on Houthis in Yemen

Oil jumped as the US and allies launched airstrikes against Houthi rebels in Yemen, stepping up retaliation for attacks on ships in the Red Sea that have imperiled flows of fuel and goods through the vital waterway. President Joe Biden said strikes had been successfully conducted against...

Oil Jumps as Russia Says It Will Cut Output in March

Oil prices advanced on Friday after Russia said it will lower its production in retaliation for sanctions put on the country for its invasion of Ukraine. Brent crude, the international standard, jumped 2.1% to $86.29 a barrel. West Texas Intermediate, the U.S. benchmark, also climbed 2.1%, to...

Oil Jumps Above $90 After US Says Israel Struck Targets in Iran

Oil jumped after US officials said Israel had struck targets in Iran, with Brent rallying on concerns over the potential for a wider regional conflict that could endanger crude supplies. The global benchmark surged after unverified reports of explosions in Iran, Syria and Iraq. Israel...

Oil Jumps 4% as Tankers Avoid Red Sea after Strikes

Oil prices leaped 4% on Friday, as oil tankers diverted course from the Red Sea following overnight air and sea strikes by the United States and Britain on Houthi targets in Yemen after attacks on shipping by the Iran-backed group. Witnesses in Yemen confirmed explosions throughout the...

Oil Jumps 2% As Hospital Blast Increases Middle East Tensions

Oil prices surged on Wednesday as tension escalated in the Middle East after hundreds were killed in a blast at a Gaza hospital, sparking concerns about potential oil supply disruptions from the region. Brent crude futures advanced $1.75, or 2%, to $91.65 a barrel at 0609 GMT. West Texas...

Oil Jumps 1% in New Year after U.S. Forces Repel Houthis in Red Sea

Oil prices jumped 1% on Tuesday, starting the New Year higher as a Red Sea naval clash focused attention on potential Middle East supply disruptions and expectations of Chinese economic stimulus boosted the demand outlook in the world's top crude importer. Brent crude rose $1.03, or 1.3%, to...

Oil Inches Lower as Traders Return from 3-Day Weekend

Oil ticked slightly lower early Monday as investors returned from a three-day Easter weekend. Crude surged in holiday-shortened trading last week after the Organization of the Petroleum Exporting Countries and its allies announced an unexpected round of production cuts. West Texas Intermediate...

Oil Inches Higher as Traders Monitor Red Sea Tensions

Oil rose slightly on Wednesday as investors kept an eye on the situation in the Red Sea after recent attacks by Iran-aligned Yemeni Houthi militants. Brent crude futures rose 23 cents, or 0.3%, at $79.46 a barrel by 0730 GMT, while U.S. West Texas Intermediate crude climbed 30 cents, or 0.4%, to...

Oil in Worst Losing Run Since 2018 as OPEC+ Fails to Stem Rout

Oil headed for the longest weekly losing streak since 2018 on escalating concerns about a global glut, with traders doubtful that deeper supply cuts by OPEC+ will be effective. Global benchmark Brent, which traded above $74 a barrel, is headed for a seventh straight weekly drop. West...

Oil Hovers Near 3-Week Highs on Middle East Tensions, China Demand

Oil prices edged up on Tuesday, hovering close to three-week highs on heightened Middle East tensions and recovering China demand. Brent futures ticked up 3 cents to $83.59 a barrel by 0757 GMT. U.S. West Texas Intermediate (WTI) crude for April delivery inched up 2 cents to $78.48 a barrel. The...

Oil Hovers Near $69 as China Stimulus Counters Rates Outlook

Oil held near $69 a barrel as traders weighed the potential for China stimulus measures against the outlook for higher interest rates.  West Texas Intermediate steadied after a choppy session on Monday, following a short-lived uprising in Russia over the weekend. Chinese...

Oil Holds Weekly Gain on Red Sea Tensions and Libyan Disruptions

Oil steadied after a weekly gain as tensions in the Red Sea and supply disruptions in Libya offset indications of market weakness, including Saudi Arabia cutting selling prices to buyers in all regions. Global benchmark Brent traded below $79 a barrel after rising 2.2% last week,...

Oil Holds Weekly Advance After More Russian Refineries Attacked

Oil steadied after its biggest weekly advance in a month as Ukrainian attacks on Russian refineries heightened geopolitical risks. Global benchmark Brent traded above $85 a barrel after gaining 4% last week, while West Texas Intermediate was near $81. Drone strikes over the weekend...

Oil Holds Two-Day Surge Amid Disruptions to Canadian Production

Oil held the bulk of a two-day surge as wildfires in Canada reduced supplies, offsetting concerns over lackluster global fuel demand. West Texas Intermediate traded just below $73 a barrel after rallying by nearly 7% over the prior two sessions amid speculation that earlier losses were...

Oil Holds Two-Day Loss on Demand Woes Before US Stockpile Data

Oil held a two-day drop as concerns about waning demand in top importer China were tempered by an industry-funded report pointing to a decline in US inventories. West Texas Intermediate futures traded below $80 a barrel, after declining by 1.3% over the previous two days. The dour...

Oil Holds Two-Day Loss on Demand Woes Before US Stockpile Data

Oil was steady after a two-day drop as concerns about waning demand in top importer China were tempered by an industry-funded report pointing to a decline in US inventories. West Texas Intermediate futures for October traded below $80 a barrel after slipping 1.3% over the previous two...

Oil Holds Two-Day Gain With Red Sea Risk Offset by US Stockpiles

Oil traded in a narrow range after two days of gains as geopolitical risk in the Middle East was partially offset by a report showing stockpiles expanding in the US. Brent crude approached $79 a barrel after climbing 1.6% over the previous two sessions, while West Texas Intermediate was near...

Oil Holds Two-Day Gain on US Stockpile Decline, Risks to Supply

Oil held a two-day gain as a report showing a drop in US stockpiles and threats to supply countered concerns about a slowdown. West Texas Intermediate for February delivery traded above $76 a barrel after rising more than 2% in the week’s first two sessions. The industry-funded American...

Oil Holds Two-Day Gain on US Stockpile Decline, Risks to Supply

Oil held a two-day gain as a report showing a drop in US stockpiles and threats to supply countered concerns about a slowdown. West Texas Intermediate for February delivery traded above $76 a barrel after rising more than 2% in the week’s first two sessions amid declining liquidity. The...

Oil Holds Two-Day Gain as Red Sea Risk Offset by US Stockpiles

Oil was steady after a two-day gain with the markets weighing geopolitical risk in the Middle East against a report showing stockpiles expanding in the US. West Texas Intermediate traded above $73 a barrel after climbing 1.4% over the previous two sessions, while global benchmark Brent...

Oil Holds Two-Day Gain Amid Disruptions to Canadian Production

Oil held the bulk of a two-day surge as wildfires in Canada reduced supplies, offsetting concerns over lackluster global fuel demand. West Texas Intermediate traded just below $73 a barrel after rallying by nearly 7% over the prior two sessions amid speculation that earlier losses were...

Oil Holds Two-Day Drop as Demand Concerns Offset SPR Refill Plan

Oil held a two-day decline as concerns over physical demand and the possible restart of some flows from Iraq offset a plan by the US that it could start refilling the Strategic Petroleum Reserve after June. West Texas Intermediate fell below $71 a barrel, after dropping by nearly 4%...

Oil Holds Two-Day Drop as China Angst Offsets Russia Export Cuts

Oil steadied in Asia — after dropping almost 4% over the previous two sessions — as concerns over the state of China’s economy were offset by Russia’s plans to cut crude exports. West Texas Intermediate traded near $74 a barrel, after falling by 1.7% on Monday as a major Libyan oil...

Oil Holds Two-Day Drop as China Angst Offsets Russia Export Cuts

Oil steadied after dropping almost 4% over the previous two sessions as concerns over the state of China’s economy were offset by Russia’s plans to cut crude exports. West Texas Intermediate traded above $74 a barrel, after falling by 1.7% on Monday as a major Libyan oil field came back...

Oil Holds Two-Day Advance Ahead of High-Stakes OPEC+ Meeting

Oil steadied after a two-day advance as traders count down to a key meeting that may see OPEC+ extend or deepen production cuts. West Texas Intermediate traded below $78 a barrel, after rising 4% over the previous two sessions. Global benchmark Brent was above $83. OPEC+ heavyweight Saudi...

Oil Holds Three-Day Gain With Equities and Middle East in Focus

Oil steadied after a three-day advance, with prices supported by gains in wider financial markets and lingering risks in the Middle East. West Texas Intermediate held below $74 a barrel after climbing 2.2% over three sessions, while Brent crude closed above $79....

Oil Holds Three-Day Advance After US Crude Stockpiles Contract

Oil held a three-day gain after data showed a decline in US inventories and traders tracked the fallout from Group of Seven sanctions targeting Russia’s crude exports and revenues. West Texas Intermediate held above $78 a barrel after rallying by more than 5% in the week’s first three...

Oil Holds Steady Near Four-Month High On OPEC+ Cuts

Oil prices hovered near their highest levels since mid-April after top producers Saudi Arabia and Russia pledged to extend supply cuts through September, further tightening supplies. Prices have seen a sustained rally, with both key benchmarks notching up their sixth consecutive weekly gains last...

Oil Holds Steady as Red Sea Developments Monitored

Oil prices were stable on Wednesday after the previous day's strong gains as investors monitored Red Sea developments, with some major shippers resuming passage through the area despite continued attacks and broader Middle East tensions. Brent crude futures rose 15 cents, or 0.2%, to $81.22 a...

Oil Holds Soft Tone on Oversupply Worries Ahead of Fed Meeting

Oil prices extended losses on Wednesday, after falling by more than 3% to six-month lows on oversupply and demand concerns. Brent crude futures for February fell 33 cents, or 0.45%, to $72.91 a barrel by 0621 GMT. U.S. West Texas Intermediate crude futures for January dropped 29 cents, or 0.42%,...

Oil Holds Sharp Drop After US Stockpiles Expand to 10-Month High

Oil held the largest decline in two months amid a slew of conflicting signals that ranged from rising stockpiles to tensions in the Middle East and the reimposition of US sanctions on Venezuelan crude. Global benchmark Brent traded below $88 a barrel after slumping by 3% on Wednesday, while...

Oil Holds Sharp Drop After US Stockpiles Expand to 10-Month High

Oil held the bulk of a large decline amid a slew of conflicting signals that ranged from rising stockpiles to tensions in the Middle East and the reimposition of US sanctions on Venezuelan crude. Global benchmark Brent traded above $87 a barrel after slumping by 3% on Wednesday, while West...

Oil Holds Rally as Hedge Funds Join Increasingly Bullish Bets

Oil was steady as hedge funds piled on bets that tightening supplies will see a resumption of the rally after a pause last week. West Texas Intermediate futures rose as much as 0.7% before trading little changed above $90 a barrel. Hedge funds boosted their bullish positions...

Oil Holds Near Three-Month Low With Demand Headwinds Growing

Oil held near its lowest in more than three months as bullishness in wider financial markets was offset by signs that demand is weakening and supplies remain ample. West Texas Intermediate edged higher toward $76 a barrel after losing almost 7% over the previous two sessions, while...

Oil Holds Near Three-Month Low as Demand Concerns Reverberate

Oil held near the lowest level in almost three months on persistent concerns over the demand outlook in China and the US. West Texas Intermediate edged higher to trade above $67 a barrel, after losing around 8% over the previous three sessions. Chinese trade data and figures...

Oil Holds Near Three-Month Low as Demand Concerns Reverberate

Oil held near its lowest level in almost three months on persistent concerns over the demand outlook in China and the US. West Texas Intermediate futures steadied above $67 a barrel, after losing more than 7% over the previous three sessions, while global benchmark Brent hovered near its...

Oil Holds Near Three-Month Low as Bearish Demand Indicators Grow

Oil held near a three-month low as a forecast drop in US gasoline consumption added to a growing array of indicators suggesting the demand outlook is worsening. Global benchmark Brent edged higher toward $82 a barrel after plunging 4.2% on Tuesday, while West Texas Intermediate was...

Oil Holds Near Three-Month Low as Bearish Demand Indicators Grow

Oil held near a three-month low as a forecast drop in US gasoline consumption added to a growing array of indicators suggesting the demand outlook is worsening. Global benchmark Brent traded below $82 a barrel after plunging 4.2% on Tuesday, while West Texas Intermediate was near...

Oil Holds Near Three-Month High on China Hopes, Tighter Supply

Oil steadied after climbing to a three-month high as China signaled further measures to bolster economic growth and global crude markets continued to tighten.  Brent crude futures held above $82 a barrel in London on Tuesday, having gained 4% in the previous three sessions. Top leaders...

Oil Holds Near Three-Month High as China Moves to Bolster Growth

Oil traded near the highest level in three months as China announced another raft of measures to support its economy, aiding the outlook for energy demand just as the global market has shown signs of tightening. West Texas Intermediate edged higher toward $79 a barrel after a three-day...

Oil Holds Near Three-Month High After Another Red Sea Attack

Oil held gains near the highest level in over three months after another Houthi strike on a commercial ship in the Red Sea, with tensions in the key region for crude production and trade continuing to simmer. West Texas Intermediate futures were little changed near $79 a barrel from Friday’s...

Oil Holds Near Three-Month High After Another Red Sea Attack

Oil held gains near the highest level in over three months after another Houthi strike in the Red Sea, with tensions in the key region for crude production and trade continuing to simmer. Brent traded above $83 a barrel after three days of gains, while West Texas Intermediate was over $79....

Oil Holds Near Four-Month High as IEA Flips Forecast to Deficit

Oil held near a four-month high after the IEA forecast a supply deficit through 2024, changing its earlier projection of a surplus, on the premise OPEC+ maintains production cuts. Brent edged lower to near $85 a barrel after rising 4.3% over the previous two sessions. West Texas Intermediate...

Oil Holds Near Four-Month High as IEA Flip Forecast to Deficit

Oil held near a four-month high after the International Energy Agency forecast a supply deficit through 2024, changing its earlier projection of a surplus, on the premise OPEC+ maintains production cuts. Brent edged lower to near $85 a barrel after rising 4.3% over the previous two sessions....

Oil Holds Near Five-Month High as US, China Show Tighter Market

Oil traded near a five-month high as falling US inventories and surging Chinese imports added to signs of a tightening global market.  West Texas Intermediate futures held above $83 a barrel after gaining 4.4% over the past two days. Crude inventories declined again last week at...

Oil Holds Near $80 as US Stockpile Drop Offsets Demand Worries

Oil steadied near $80 a barrel in London as traders assessed a mixed picture in the US market and China’s efforts to revitalize its sagging economic growth.  Brent futures were slightly higher on Thursday in thin trading typical for this time of year. US data showed crude inventories at...

Oil Holds Near $76 as Russian Flows Drop and US Economy Improves

Oil was steady in Asia after rising more than 2% Tuesday on signs Russia is making good on its pledge to curb supplies. West Texas Intermediate traded near $76 a barrel after Russia’s seaborne crude flows fell to a six-month low in the four weeks to July 16. Crude was also...

Oil Holds Losses With Demand Fears Overshadowing Tight Supply

Oil held losses as concerns over the near-term demand outlook overshadowed signs of tightening supply heading into winter. West Texas Intermediate futures traded near $86 a barrel after closing 3.5% lower in the previous session. OPEC cut its forecasts for global demand in the...

Oil Holds Losses on Hawkish Fed Despite Surprise Stockpile Draw

Oil held losses on a persistently hawkish tone from the Federal Reserve, despite an unexpected decline in US crude inventories. West Texas Intermediate futures traded below $77 a barrel after sliding almost 5% over the previous two sessions. Fed Chair Jerome Powell reiterated that the...

Oil Holds Loss on Signs of Supply Rebound as Demand Woes Linger

Oil held a decline on signs that supply is rebounding while concerns linger about demand in China, the biggest importer. West Texas Intermediate futures for October traded near $80 a barrel, after falling 0.7% on Monday. Exports from Iran surged to 2.2 million barrels a day...

Oil Holds Loss on Signs of Supply Rebound as Demand Woes Linger

Oil held a modest decline on signs that supply is rebounding while concerns linger about demand in China, the biggest importer. West Texas Intermediate futures for October traded near $80 a barrel, after falling 0.7% on Monday. Observed exports from Iran have surged to 2.2...

Oil Holds Loss on Jump in US Stockpiles, Fed Rate-Hike Signal

Oil held most of a drop driven by a surprise jump in US crude stockpiles and the Federal Reserve signaling it’s not finished with rate hikes. West Texas Intermediate futures edged higher on Thursday to trade near $68 a barrel, after falling 1.7% on Wednesday. US...

Oil Holds Loss Below $90 With Market Buffeted by Rate Fears

Oil held onto the previous day’s drop as macroeconomic concerns overshadowed physical market tightness to cloud the demand outlook. West Texas Intermediate traded near $89 a barrel after declining by 2.2% in the previous session. A global rout in sovereign bonds and shares...

Oil Holds Loss as Stronger US Dollar, Slowdown Concerns Weigh

Oil held a loss as a stronger US dollar and concerns over an economic slowdown that would sap energy demand weighed on sentiment. West Texas Intermediate traded below $80 a barrel after closing 1.2% lower on Monday. The dollar has climbed over the previous three sessions as investors boosted...

Oil Holds Loss Amid Concerns Over Chinese Demand, Banking Woes

Oil held a loss as concerns over China’s economic outlook and caution in financial markets spurred by a banking crisis dominated sentiment. West Texas Intermediate traded near $75 a barrel after dropping 1.5% on Monday. China’s recovery remains patchy with recent data pointing...

Oil Holds Loss After Fed Raises Rates to Highest in 22 Years

Oil steadied after its first daily loss in a week that was driven by the Federal Reserve raising borrowing costs to the highest in 22 years and US inventories shrinking less than expected.  West Texas Intermediate traded near $79 a barrel, after slipping 1.1% on Wednesday. The...

Oil Holds Large Weekly Climb With Red Sea Tensions to the Fore

Oil steadied after posting the largest weekly advance in more than two months, with shipping disruptions in the Red Sea in focus after a spate of Houthi attacks against vessels in the vital waterway. West Texas Intermediate traded near $74 a barrel, after rallying by 3% in the prior week,...

Oil Holds Large Weekly Climb With Red Sea Tensions to the Fore

Oil steadied after posting the largest weekly climb in more than two months, with shipping disruptions in the Red Sea in focus after a spate of Houthi attacks against vessels in the vital waterway. Global benchmark Brent traded above $79 a barrel after rallying by more than 3% last...

Oil Holds Large Gain as Equity Market Surge Eclipses IEA Warning

Oil held a large advance as a risk-on mood in wider markets and signs OPEC+ members are complying with supply cuts overshadowed a gloomy demand outlook from the IEA. Brent crude traded just below $83 a barrel after rising 1.5% on Thursday, while West Texas Intermediate was near $78, near its...

Oil Holds Gains on Cooling US Inflation, Weakening US Dollar

Oil held gains as softening US inflation prompted optimism the rate-hiking cycle may be nearing an end, improving the demand outlook. West Texas Intermediate traded near $76 a barrel after closing 1.2% higher on Wednesday as consumer price inflation fell to the lowest in more than...

Oil Holds Gains as Russian Exports Drop and US Economy Improves

Oil was steady in Asian after rising more than 2% Tuesday on signs Russia is making good on its pledge to curb supplies. West Texas Intermediate traded near $76 a barrel after Russia’s seaborne crude flows fell to a six-month low in the four weeks to July 16. Crude was also...

Oil Holds Gains as OPEC+ Supply Curbs Balanced by Demand Woes

Oil held a modest advance after Saudi Arabia and Russia’s announcements that they would prolong supply cuts through the end of the year was balanced by a worsening demand outlook.  West Texas Intermediate was steady near $81 a barrel after closing 0.4% higher on Monday, while...

Oil Holds Gains as Market Shrugs Off US Measures to Tame Prices

Oil held gains as the market shrugged off measures from US President Joe Biden to tame rising energy prices that have fueled inflation. West Texas Intermediate for December traded near $85 a barrel after rising 3% on Wednesday. Biden confirmed the release of 15 million barrels from...

Oil Holds Gain With Russian Refining and OPEC+ Curbs to the Fore

Oil held a gain with continued Ukrainian drone attacks on Russian refineries and OPEC+ supply cuts in focus. Brent crude traded near $87 a barrel after a 1.8% rally on Monday to the highest close since late October. West Texas Intermediate was below $83. About 600,000 barrels of Russia’s...

Oil Holds Gain on Signs Russian Crude Flows Starting to Decline

Oil steadied in Asia after rising 2.5% on Tuesday on signs that Russian crude production may be finally starting to drop.  West Texas Intermediate futures traded near $75 a barrel. Vessel tracking data showed Russian oil flows are starting to show signs of falling more than...

Oil Holds Gain on Signs Russian Crude Flows Starting to Decline

Brent oil steadied after rising around 2% on Tuesday on signs that Russian crude production may be finally starting to decline. Futures in London traded near $80 a barrel, a threshold that was last breached in early May. Vessel tracking data showed shipments through Russia’s...

Oil Holds Gain Near Five-Week High Ahead of Fed Chair Testimony

Oil held gains near the highest close in five weeks ahead of a testimony from Federal Reserve Chair Jerome Powell that will provide clues on the path forward for monetary tightening. West Texas Intermediate traded above $80 a barrel after advancing for five sessions, which drove futures...

Oil Holds Gain as Signs of Tight Market Offsets Demand Concerns

Oil held a gain as signs of a tightening crude market countered concerns about weak demand, keeping prices in a narrow range. West Texas Intermediate edged above $78 a barrel after closing 1.1% higher on Wednesday. Brent settled near $83. Timespreads are signaling a tightening...

Oil Holds Gain as Big US Inventory Draw Points to Tighter Market

Oil held gains after a five-day advance driven by a slump in US inventories and speculation that OPEC+ leaders will prolong supply cuts. West Texas Intermediate traded near $82 a barrel, after advancing 3.5% in the longest run of daily gains since March. Stockpiles in the US...

Oil Holds Gain After US Crude Inventories Post Large Decline

Oil held gains after a five-day advance driven by a slump in US inventories and speculation that OPEC+ leaders will prolong supply cuts. West Texas Intermediate traded above $81 a barrel, after advancing 3.5% in the longest run of daily gains since March. Stockpiles in the US...

Oil Holds Gain After US Crude Inventories Post Large Decline

Oil held gains after a five-day advance driven by a slump in US inventories and speculation that OPEC+ leaders will prolong supply cuts. West Texas Intermediate traded above $81 a barrel, after advancing 3.5% in the longest run of daily gains since March. Stockpiles in the US...

Oil Holds Four-Day Drop as US Exports Add to Oversupply Concerns

Oil steadied after a four-day drop as a flood of US exports and doubts over whether OPEC+ will be able to deliver on its planned production cuts raised concerns of oversupply. Global benchmark Brent traded above $77 a barrel after slumping by more than 7% over the previous four sessions,...

Oil Holds Drop With Isreal-Hamas War, Demand Signals in Focus

Oil held a sharp drop spurred by signs that the Israel-Hamas war will remain contained while demand may be softening. West Texas Intermediate was steady above $82, after losing nearly 4% on Monday to erase all of the gains that followed the Oct. 7 attack on Israel. Global benchmark Brent was...

Oil Holds Decline With Risk-Off Tone Countering Red Sea Flare-Up

Oil held a drop as broad risk-off sentiment undercut concerns about escalating conflict in the Red Sea. West Texas Intermediate traded above $70 a barrel after dropping 1.8% on Tuesday, with global benchmark Brent closing below $76. Traders are paring back bets on the scale...

Oil Holds Decline as Investors Look Ahead to US Inflation Print

Oil held a loss ahead of US inflation data and reports from OPEC and the IEA this week that may provide clues on the demand outlook. Brent futures fell below $82 a barrel after closing 1.1% lower on Friday, while West Texas Intermediate was under $78. Prices still remain in a tight trading...

Oil Holds Decline as China Concerns Persist and Dollar Advances

Oil was steady after a loss on Monday on concerns around the health of the Chinese economy and an elevated dollar. West Texas Intermediate traded near $83 a barrel after falling 0.8% in the previous session. Chinese data released Tuesday, including industrial output, retail sales,...