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Energy

Oil on track for 9-week high on rising demand outlooks
Energy

Oil on track for 9-week high on rising demand outlooks

  • Brent futures rose $1.09, or 1.6%, to $69.64 a barrel.
  • US West Texas Intermediate (WTI) crude rose $1.08, or 1.7%, to $66.36.
  • India's coronavirus death toll crossed 250,000 in the deadliest 24 hours since the pandemic began.
Updated 12 May, 2021 07:32pm
Fuel shortages worsen on sixth day of top US fuel pipeline outage
Energy

Fuel shortages worsen on sixth day of top US fuel pipeline outage

  • A ransomware attack on the Colonial Pipeline last week halted 2.5 million barrels per day of fuel shipments in the most disruptive cyberattack on US energy infrastructure. The pipeline stretches 5,500 miles (8,850 km) from US Gulf Coast oil refineries to consumers in Mid-Atlantic and Southeast states.
Published 12 May, 2021 06:51pm
US natgas flat as higher oil prices offset milder weather
Energy

US natgas flat as higher oil prices offset milder weather

  • Front-month gas futures remained unchanged at $2.958 per million British thermal units.
  • US crude futures, meanwhile, rose over $1 a barrel earlier in the day on signs of a speedy economic recovery and upbeat forecasts for energy demand.
Published 12 May, 2021 06:29pm
Brent oil may test support at $67.33
Energy

Brent oil may test support at $67.33

  • On the daily chart, the gain on Monday proved to be a short-lived bluff by bulls. Market sentiment looks mixed, while oil is consolidating around $68.43.
Published 11 May, 2021 12:25pm
US oil may rise to $66.52
Energy

US oil may rise to $66.52

  • On the daily chart, a resistance zone of $65.65-$66.60 triggered the second correction, which looks too shallow to complete.
Published 10 May, 2021 11:13am