Palm oil reaches a two-week high amid muted Indonesian supply outlook
The price of Malaysian palm oils futures reached a new two-week high Wednesday. This was boosted by the prospect of a weakening in supply from Indonesia, the world's biggest producer. However, softer data on exports capped gains. The benchmark palm-oil contract for delivery…
Oil Barrels Toward $79 to Start '22
Oil rose towards $79 a barrel on Monday supported by tight supply and hopes of further demand recovery in 2022 spurred in part by a view that the Omicron coronavirus variant is unlikely to significantly dampen the outlook.Libyan oil output will be cut by 200,000 barrels per day for a week due to pipeline maintenance.
Oil Prices Rise Over 2% as US Inventories Decline
Oil prices rose for a second day on Friday as the market reacted to falling U.S. inventories.Signs of strong Asian demand from both China and India also strengthened the market.Brent crude oil futures were up $1.49, or 2%, at $75.60 a barrel by 1:12 p.m. ET (1712 GMT). U.S.
Oil Prices Up as Faith in Supply Cuts Grows
Oil prices rose on Tuesday, supported by growing confidence that producers are following through on commitments to cut supplies and as fuel demand picks up as coronavirus lockdowns ease.Brent crude futures were up 1.4%, or 48 cents, at $36.01 a barrel by 1210 GMT.U.S. West Texas Intermediate (WTI) crude futures gained 2.3%…
Oil Up 5% as U.S. Fed steps in to Prop Economy
Oil jumped 5% on Tuesday to above $28 a barrel, supported by steps by the U.S. Federal Reserve to bolster the economy and hopes the United States will soon reach a deal on a $2 trillion coronavirus aid package.The Fed on Monday rolled out an array of programs including backing for the first time corporate bond purchases. U.S.
Oil Facing Prolonged Period of Demand Destruction
Oil prices rose on Friday as the world's richest nations poured unprecedented aid into the global economy to stop a coronavirus-driven recession and U.S. President Donald Trump hinted he may intervene in the price war between Saudi Arabia and Russia.Brent crude futures were up $1.14, or 4%, at $29.61 a barrel by 1133 GMT. U.S.
Oil Edges Lower on U.S. Crude, Gasoline Build
Oil eased on Wednesday after a report showing U.S. crude inventories grew unexpectedly last week and gasoline stocks surged, but losses were limited by optimism that a U.S.-China trade deal would be reached soon.Brent crude futures fell 34 cents, or 0.5%, to $63.93 a barrel by 1:14 p.m. EST (1814 GMT). U.S.
Oil Rises on U.S. Crude Stocks Fall
Oil rose on Thursday after industry data showed a surprise drop in U.S. crude inventories, while comments from OPEC about lower-than-expected U.S. shale production in 2020 also provided some support.Prices were capped by mixed signs for oil demand in China, the world's biggest crude importer.
Brent Oil Prices Rise Above $60
Brent crude oil futures rose above $60 a barrel on Wednesday after industry data showed a larger-than-expected drop in U.S. crude inventories, but lingering worries about a possible global recession capped gains.Brent crude had gained 26 cents, or 0.43%, to $60.29 a barrel by 0900 GMT, after settling 0.5% higher on Tuesday, while U.S.
Oil Hovers Near Five-Month Highs
Oil prices steadied on Wednesday after Brent pushed towards a nearly five-month high of $70 a barrel on OPEC-led supply cuts and U.S. sanctions, with gains capped by a surprise increase in American inventories.Brent futures had moved up 24 cents, or 0.35 percent, to $69.61 by 1220 GMT. They earlier reached $69.96 - the highest since Nov.
Oil Edges Above $67
Oil edged further above $67 a barrel on Monday, supported by the prospect of prolonged OPEC-led oil supply curbs though concern that an economic downturn may dent fuel consumption curbed gains.OPEC and non-OPEC ministers who met in Azerbaijan to monitor their oil supply-cut accord said they planned to exceed their commitments.
Oil Edges Up Despite Trump's OPEC Pressure
U.S. crude inventories seen up for sixth week; prices helped by OPEC cuts, U.S. sanctions.Brent oil edged up to $65 a barrel on Tuesday as Saudi Arabia and the rest of OPEC were expected to stick to their production cuts, despite renewed pressure from U.S. President Donald Trump.Prices slid on Monday…
Oil Falls Towards $53 on Economic Worries, Surging Supply
Oil fell towards $53 a barrel on Wednesday, under pressure from rising output in major OPEC and non-OPEC producers and concerns about an economic slowdown that could weaken demand.Russian production hit a post-Soviet record in 2018, figures showed on Wednesday. Other data showed U.S.
After Trump Calls, Gulf OPEC Members Cover Most of Iran Oil Loss
OPEC oil supply has fallen in November from a two-year high due to U.S. sanctions on Iran, a Reuters survey found, although most of the output gap left by Iran was plugged by Saudi Arabia and the UAE in response to calls from U.S. President Donald Trump.The 15-member Organization…
Oil Slips Below $77
Oil slipped below $77 a barrel on Friday, under pressure from higher Saudi production and trade tensions between the United States and China, despite support from oil supply disruptions.Top exporter Saudi Arabia told OPEC it raised oil output by almost 500,000 barrels per day last month…
Oil Slips, Weighed by Saudi Output, Trade Spat
U.S. crude inventories rise unexpectedly; U.S. implements tariffs on Chinese goods on Friday. Oil slipped below $77 a barrel on Friday, under pressure from higher Saudi production and trade tensions between the United States and China, despite support from oil supply disruptions.
Oil Steady as U.S.-Iran Row Balances Trade Worries
Oil prices steadied on Tuesday as tension between the United States and Iran highlighted risks to supply and trade disputes raised the prospect of slower economic growth and weaker energy demand.Brent crude oil was down 10 cents at $72.96 a barrel by 1328 GMT. U.S. light crude…
Oil Slips Below $60
Oil slipped to below $60 a barrel on Wednesday, pressured by rising U.S. inventories and doubts over whether an OPEC-led output cut will be agreed next week.U.S. crude stockpiles rose last week, the American Petroleum Institute (API) industry group said on Tuesday. Saudi Arabia…
Oil Falls Below $73 on Rising Supply, Trade Worries
Oil extended losses on Wednesday to fall below $72 a barrel, pressured by an industry report that U.S. stockpiles of crude rose unexpectedly and higher OPEC production, adding to indications of more ample supply.Concern of an imminent escalation in the trade war between the United Sates and China pressured equities and boosted the U.S.
Oil Rebounds Towards $81 but Weaker Demand View Weighs
Oil rebounded towards $81 a barrel on Friday as an equities rally lent support, though prices pared gains after a closely watched forecaster deemed supply adequate and the outlook for demand weakening.Crude was still heading for its first weekly drop in five weeks, pressured by a big rise in U.S.
