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Brent oil

Oil extends gains despite rise in US inventories
Markets

Oil extends gains despite rise in US inventories

  • Brent crude futures had gained $2.13, or 3.1%, to $71.48 a barrel
  • US crude stocks rose by 806,000 barrels for the week that ended July 16, according to two market sources, citing American Petroleum Institute figures.
Published 21 Jul, 2021 07:18pm
US oil may fall to $69.35
Markets

US oil may fall to $69.35

  • The lower channel suggests a target around $67.59, which will be confirmed when the support at $69.02 is broken
Published 19 Jul, 2021 12:15pm
Oil track for big weekly drop as supply concerns mount
Markets

Oil track for big weekly drop as supply concerns mount

  • Brent crude was down 82 cents, or 1.1%, at $72.65 a barrel, heading for a 3.8% fall this week.
  • Saudi Arabia and the UAE reached a compromise this week, paving the way for OPEC+ producers to finalise a deal to increase production.
Published 16 Jul, 2021 09:05pm
Oil prices extend losses on expected supply increase
Markets

Oil prices extend losses on expected supply increase

  • Saudi Arabia and UAE reach compromise on oil supply.
  • US crude stockpiles fall for eighth week –EIA.
  • US fuel stocks rose despite reduced refinery output –EIA.
  • Iran nuclear talks unlikely until mid-August –source.
  • China June crude throughput hit record high.
Published 15 Jul, 2021 05:26pm
Oil climbs while OPEC+ considers output increase
Markets

Oil climbs while OPEC+ considers output increase

  • WTI rose more than 10% in June, Brent more than 8%.
  • Cushing inventories drop to lowest since March 2020 –EIA.
  • Brent to average $67.48/bbl; WTI $64.54 in 2021 -Reuters poll.
  • OPEC+ to add 2 mln bpd to market in August-December – source.
Published 01 Jul, 2021 06:46pm