Tag Archives: Oil

Oil prices rose after OPEC and its allies agreed to commit to a cautious return to oil supplies to the market in June and July, with expectations of a strong recovery in demand in the United States and China, the world’s largest oil consumers. US West Texas Intermediate crude rose …

Oil, Crude, trading

Oil futures registered gains on Tuesday, with markets positively reacting to the Organization of the Petroleum Exporting Countries’ (OPEC) and its OPEC+ allies deciding to commit to the current easing cycle of output cuts that was agreed in response to the Coronavirus crisis. Brent crude futures for August delivery gained …

Oil prices rose on Tuesday, June 1, to record Brent $71 and its highest level since March, thanks to expectations of growth in fuel demand in the summer travel season in the United States. Prices were also boosted by Chinese data showing factory activity grew at its fastest pace this …

Three OPEC sources told Reuters that OPEC+ is likely to stick to the current pace of gradual easing of oil supply restrictions at Tuesday’s meeting, as producers weigh their expectations of a demand recovery against a possible increase in Iran’s supply. The Organization of the Petroleum Exporting Countries (OPEC) and …

Oil prices rose on Tuesday, June 1 ahead of a meeting of the OPEC+ alliance, buoyed by hopes of growth in fuel demand in the coming months as the summer driving season begins in the United States, the world’s largest oil consumer. Prices also received a boost from Chinese data …

Oil, Crude, trading

Oil prices rose in early Asian trade on Monday, buoyed by positive times for fuel demand growth next quarter, as investors look to this week’s OPEC+ meeting to see how producers will respond. Brent crude futures for August delivery were up 50 cents, or 0.7%, at $69.22 a barrel, after …

Oil, Crude, trading

Oil prices fluctuated on Friday and showed a mixed performance but still managed to register weekly and monthly gains on the back of positive expectations for demand recovery. Brent crude futures for July delivery rose by 17 cents, or 0.2%, to finish at $69.63 per barrel, its highest closing level …