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Oil gains on supply woes after OPEC+ output cuts Oil prices ticked up in early Asian trade on Wednesday after rising over 1% in the previous session, as markets worried about a supply shortage after Saudi Arabia and Russia extended their voluntary supply cuts to the end of the year. Brent crude futures rose by 14 cents to $90.18 a barrel at 0215 GMT. U.S. West Texas Intermediate crude (WTI) futures gained 12 cents at $86.81 a barrel. Investors had expected Saudi Arabia and Russia to extend voluntary cuts into October, but the three-mo...
Oil gains on supply woes after OPEC+ output cuts
Oil gains on supply woes after OPEC+ output cuts
Source: Reuters
6/09/2023 8:53:47 AM
Oil rises on China, US economic data and OPEC+ cut expectations Oil prices ticked up in Asian morning trade on Monday, as market sentiment was buoyed by positive China and U.S. economic data, as well as expectations of ongoing crude supply cuts from major producers. Brent crude was up 17 cents, or 0.2%, at $88.72 a barrel at 0015 GMT. U.S. West Texas Intermediate crude (WTI) rose 25 cents, roughly 0.3%, to $85.80. The sustained upward price movement comes after both contracts settled at their highest levels in more than half a year last week, breaki...
Oil rises on China, US economic data and OPEC+ cut expectations
Oil rises on China, US economic data and OPEC+ cut expectations
Source: Reuters
4/09/2023 8:49:46 AM
Oil prices set for sixth weekly gain as producers pledge 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 30 cents, or 0.4%, to $85.44 a barrel by 0042 GMT, while U.S. West Texas Intermediate crude for September rose 36 cents, or 0.4%, to $81.90. Brent on Thursday clawed back a 2% drop in the Wednesday session, leaving futures set for a 0.4% weekly...
Oil prices set for sixth weekly gain as producers pledge output cuts
Oil prices set for sixth weekly gain as producers pledge output cuts
Source: Reuters
4/08/2023 8:52:24 AM
Oil steady as markets weigh supply cuts against weak economic data Oil prices held steady on Tuesday as markets weighed supply woes from cuts for August by top exporters Saudi Arabia and Russia against economic data that hinted at weak crude demand. Brent crude futures were up 22 cents, or 0.3%, at $74.87 a barrel by 0033 GMT. U.S. West Texas Intermediate crude were at $70.06, up 27 cents, or 0.3%. U.S. markets will be closed on Tuesday for the nation's Independence Day holiday. The oil benchmarks had settled down about 1% in the previous session. ...
Oil steady as markets weigh supply cuts against weak economic data
Oil steady as markets weigh supply cuts against weak economic data
Source: Reuters
4/07/2023 8:44:10 AM
Russia`s Rosneft signs deal to boost oil supplies to India Russia's largest oil producer Rosneft and India's top refiner Indian Oil Corp have signed a term agreement to substantially increase oil supplies and diversify oil grades delivered to India, Rosneft said on Wednesday. The deal was signed during a working trip to India by Rosneft CEO Igor Sechin, the company said. It did not reveal the details of the agreement. "The parties also discussed ways of expanding cooperation between Rosneft Oil Company and Indian companies in the e...
Russia`s Rosneft signs deal to boost oil supplies to India
Russia`s Rosneft signs deal to boost oil supplies to India
Source: Reuters
29/03/2023 4:25:30 PM
Oil hits three-week high as China eases COVID curbs Oil hit a three-week high on Tuesday as China's latest easing of COVID-19 restrictions spurred hopes of a fuel demand recovery, with further support coming from cuts to U.S. energy production caused by winter storms. China will stop requiring inbound travellers to go into quarantine, starting from Jan. 8, the National Health Commission said on Monday in a major step towards easing curbs on borders that have been largely shut since 2020. Brent crude was up 22 cents, or 0.3%, at $84.1...
Oil hits three-week high as China eases COVID curbs
Oil hits three-week high as China eases COVID curbs
Source: Reuters
27/12/2022 9:01:41 AM
Russia offers to help India overcome crude price cap Russia is said to have offered to help India overcome the oil price cap, which has been imposed by Western nations on the world's largest country. "In order not to depend on the ban on insurance services and tanker chartering in the European Union and Britain, Deputy Prime Minister of Russia Alexander Novak has offered India cooperation on leasing and building large-capacity ships," reports quoting the Russian embassy in New Delhi said. Novak met Indian Ambassador to Mosco...
Russia offers to help India overcome crude price cap
Russia offers to help India overcome crude price cap
Source: IANS
12/12/2022 9:43:16 AM
Oil falls close to 2022 lows on economic worries, easing supply fears Oil weakened on Wednesday, with Brent crude falling close to its lowest this year, pressured by concern about recession and easing fears that a Western cap on Russian oil prices would significantly curb supply. Warnings from big U.S. banks about a likely recession next year weighed, and supported the U.S. dollar. A stronger dollar makes oil more expensive for holders of other currencies and tends to dampen appetite for risk assets. Brent crude fell $1.05, or 1.3%, to $78.30 a barrel by ...
Oil falls close to 2022 lows on economic worries, easing supply fears
Oil falls close to 2022 lows on economic worries, easing supply fears
Source: Reuters
7/12/2022 9:06:01 AM
Oil extends gains after OPEC+ agrees to slash crude output Oil prices rose for a fourth session on Thursday, with Brent at a three-week high, after OPEC+ agreed to further tighten global crude supply with a deal to slash production by about 2 million barrel per day, the largest reduction since 2020. Brent crude futures for December settlement rose 22 cents, or 0.2%, to $93.59 per barrel by 0234 GMT after settling 1.7% higher in the previous session. U.S. West Texas Intermediate (WTI) crude futures for November delivery gained 22 cents, or 0.3%,...
Oil extends gains after OPEC+ agrees to slash crude output
Oil extends gains after OPEC+ agrees to slash crude output
Source: Reuters
6/10/2022 8:43:56 AM