Tag Archives: Oil Prices

Oil prices slumped on Monday as surging cases of the Omicron coronavirus variant in Europe and the United States stoked investor worries that new restrictions to combat its spread could dent fuel demand.Brent crude futures fell $2, or 2.7%, to settle at $71.52 a barrel, while US WTI crude futures …

A report indicated that the compliance of “OPEC+” with the agreement to cut production in November amounted to 117%, which is a level higher than the 116% recorded in the previous October. These data indicate that the Group’s production levels are still below the agreed targets. The sources also told …

Oil prices fell more than 2% on Monday, as rising omicron infections from the coronavirus in Europe and the United States fueled investor fears that new business restrictions to combat its spread could slash fuel demand. Brent crude futures fell $1.92, or 2.6 percent, to $71.60 a barrel by 0436 …

Oil prices continued to trade lower in Friday dealings, with January West Texas Intermediate crude down $1.43, or 2%, at $70.95 a barrel on the New York Mercantile Exchange. Crude oil prices fell on Friday and were also down on the week as surging cases of the Omicron coronavirus variant …

New York Mercantile Exchange oil futures and the nearest delivered Brent contract on the Intercontinental Exchange extended losses into a third successive session Wednesday, with investors keeping risk appetite in check following the outlook for lower demand growth next year hit by the rapidly spreading omicron variant. Market attention has …

The US dollar is up against most of its rival currencies, rising during US trading hours on the back of higher yields and weaker stocks.The US published November PPI, which jumped to a record of 9.6% YoY, much higher than the previous reading that was at 8.6%, while the core …

The shift toward renewable energy has to be managed very carefully in order to prevent a surge in oil prices as energy demand continues to rise, according to Saudi Arabia’s finance minister.“We have very serious concerns that the world could run short of energy if we are not careful in …

OPEC on Monday raised its forecast for global oil demand in the first quarter of 2022 but left its full-year growth forecast unchanged, saying the Omicron mutant from the coronavirus would have a slight impact as the world coped with the pandemic. The Organization of the Petroleum Exporting Countries (OPEC) …

The US Dollar Index (DXY) which measures the performance of the US dollar against major currencies, has slid by 0.19%, settling at 96.04 during the New York trading session.The market sentiment was positive as the Wall Street session closed, with major US shares finishing in the green territory recording gains …

US drillers this week have added oil and natural gas rigs for the sixth time in seven weeks as demand for energy keeps growing after last year’s coronavirus demand destruction.That rig count increase comes despite oil price declines in six of the past seven weeks. The oil and gas rig …