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oil markets

Oil trades at multi-year highs on demand expectations
Markets

Oil trades at multi-year highs on demand expectations

  • Vitol CEO sees oil price around $70-$80/bbl this year.
  • Trafigura CEO says good chance oil gets to $100/bbl.
  • POLL-US crude inventories seen falling for 4th week in a row.
  • Coming Up: API data on US crude stocks at 4:30 p.m. ET.
Published 15 Jun, 2021 09:01pm
Oil rises on optimism about demand outlook
Markets

Oil rises on optimism about demand outlook

  • Brent crude was up by 52 cents, or 0.7%, at $73.38 a barrel.
  • We have had those stock draws for a couple months, the market is heading in the right direction ... my impression it is not a super cycle.
Published 15 Jun, 2021 05:34pm
Oil rises to highest since March on demand prospects
Markets

Oil rises to highest since March on demand prospects

  • OPEC+ decided in April to return 2.1 million barrels per day (bpd) of supply to the market from May to July, anticipating rising global demand despite the high number of coronavirus cases in India, the world's third-largest oil consumer.
Published 01 Jun, 2021 11:15pm
Oil near one-week high as prospect of Iran glut wanes
Markets

Oil near one-week high as prospect of Iran glut wanes

  • Brent crude futures were down 30 cents, or 0.4%, at $68.16 a barrel by 1004 GMT, having jumped 3% on Monday. US West Texas Intermediate futures were off 42 cents, or 0.6%, at $65.63 a barrel, after gaining 3.9% the previous session.
  • Still, the global recovery from the COVID-19 pandemic is patchy, indicating a mixed outlook for oil demand.
Published 25 May, 2021 05:18pm