oil price

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
Iran's oil exports, on rising trend, drop in May as China buying ebbs
Markets

Iran's oil exports, on rising trend, drop in May as China buying ebbs

  • Tehran's oil exports have risen since late 2020, despite US sanctions toughened under US President Donald Trump. Joe Biden's administration took office in January pledging to rejoin Iran's nuclear deal with world powers, which Trump had quit.
  • "China and Iran are carrying out normal economic and trade cooperation, including energy, within the framework of international law, and the relevant cooperation is reasonable and legitimate," the spokesperson said.
Published 19 May, 2021 05:45pm
Oil on track for 9-week high on rising demand outlooks
Markets

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
World oil rises
Markets

World oil rises

NEW YORK: Oil prices rose on Tuesday after more US states eased lockdowns and the European Union sought to attract...
Published 05 May, 2021 04:01am
Oil prices climb
Markets

Oil prices climb

NEW YORK: Oil prices edged higher on Monday, supported by a weaker US dollar but gains were capped by concerns about...
Published 20 Apr, 2021 03:59am
Oil near one-month highs as demand outlook improves
Markets

Oil near one-month highs as demand outlook improves

  • US West Texas Intermediate futures fell 36 cents, or 0.6%, to $62.79. It had earlier reached $63.48, also the highest since March 18.
  • The IEA and Organization of the Petroleum Exporting Countries (OPEC) made upward revisions to their global oil demand growth forecasts for 2021 this week to 5.7 million barrels per day (bpd) and 5.95 million bpd respectively.
Published 15 Apr, 2021 07:35pm
Oil prices climb
Markets

Oil prices climb

NEW YORK: Oil prices edged higher on Monday after a broad sell-off last week, as market players were hopeful demand...
Published 23 Mar, 2021 04:37am
Oil surges $2 after OPEC+ extends output cuts
Markets

Oil surges $2 after OPEC+ extends output cuts

  • Saudi Arabia surprises with continued voluntary cuts.
  • OPEC+ producers keep curbs, agree only small output boost.
  • Decision could affect oil inventories into 2022.
  • Brent and WTI on track for weekly gains.
Published 05 Mar, 2021 08:28pm