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oil producer

Oil steady as US jobs report disappoints
Markets

Oil steady as US jobs report disappoints

  • New Covid variant appears to restrain US job growth
  • US Gulf Coast struggles to recover after storm
  • OPEC+ agrees to boost production
  • Global demand outlook bright on recovery hopes
Updated 03 Sep, 2021 07:50pm
Oil rises on economic recovery hopes, weaker dollar
Markets

Oil rises on economic recovery hopes, weaker dollar

  • Brent crude was up $1.25, or 1.8%, at $72.84 a barrel
  • Crude oil processing will probably take considerably longer to recover from the outages than crude oil production, which suggests that crude oil stocks will increase in the coming weeks," says Commerzbank
Updated 02 Sep, 2021 07:13pm
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
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
Oil prices retreat but outlook remains positive
Markets

Oil prices retreat but outlook remains positive

  • As oil is priced in dollars, a stronger greenback makes crude more expensive for buyers with other currencies.
  • China's crude imports were down 14.6% in May on a yearly basis also weighed on prices.
Published 08 Jun, 2021 09:02pm