Tag Archives: Oil Prices

Crude oil prices fall during Thursday’s session after rallying for six weeks, retreating by 2.82%. COVID-19 restrictions, and the spread of the Omicron variant, dented market mood as oil demand cut are among factors that are dragging prices lower.The factors together hit oil prices as lockdowns loom as a number …

Crude oil prices have been choppier on Wednesday than the previous two days. WTI crude futures have dumped within a USD 71.00 – 72.70 range over the past few hours, swinging between gains and losses. WTI slump back under the USD 72.00 to around USD 71.75, where it trades broadly …

In its monthly Short Term Energy Outlook (STEO) report, the US Energy Information Administration has raised its forecast for 2022 world oil demand growth by 200000 barrels per day (BPD).This data was released on Tuesday, and now demand growing 3.55M BPD YoY next year. The EIA STEO cut its forecast …

Oil prices rose on Tuesday after rising 5 percent in the previous session as concerns eased about the impact of the mutated Omicron strain of the Coronavirus on global fuel demand, while nuclear talks with Iran faltered, delaying the return of Iranian crude supplies to the market. Brent crude futures …

WTI has recovered some of last week’s losses and reclaimed $67.50 amid a positive market mood. Saudi Arabia increased the crude-oil barrel to a median of $0.50 to different customers, and oil rose on the news.As the New York session begins, the US crude oil benchmark, Western Texas Intermediate, also …

The number of rigs drilling for oil in the US. was unchanged in the latest week at 467, according to oil-field services company Baker Hughes Co. The rig count was 221 rigs higher than last year when there were 246 active rigs, Baker Hughes said Friday.The nation’s gas-rig count stood …

Crude oil prices edged higher on Friday following statements by OPEC+ that the group could review its policy to hike output if a rising number of pandemic lockdowns obstructs off demand.Brent futures rose 90 cents, 1.3%, to $70.57 a barrel, while US WTI rose 55 cents, 0.8%, to $67.05. Losses …

US President Joe Biden said on Friday that price pressures would ease as the global economy improves. “Gasoline price drops are beginning to reach Americans and this should pick up, he added, saying that China might also decide to release more oil, though it has not done so just yet.

Thursday has been a uneven day for crude oil prices, as traders eye OPEC+ decision to hike concerning January production.The big news of the day was OPEC+’s decision to surprise markets by not choosing to halt output hikes in January but to press ahead with another incremental 400000 barrel per …

US President Joe Biden’s administration will extend requirements for travelers to wear masks on airplanes, trains and buses and at airports and train stations through mid-March to address ongoing COVID-19 risks. A formal announcement extending the requirements through March 18 is expected on Thursday.The news adds to the Omicron-led risk …