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oil producer

Oil hits 6-week high as Storm Nicholas hits US Gulf
Markets

Oil hits 6-week high as Storm Nicholas hits US Gulf

  • US energy firms brace for another storm amid slow recovery from Ida
  • Over 40% of US Gulf's oil, gas output still shut following Ida
  • IEA sees oil demand rebounding by 1.6 million bpd in October
  • China to auction 7.38 mln bbl of crude from strategic reserves
Published 14 Sep, 2021 05:56pm
Oil steady as China moves to tap oil stocks
Markets

Oil steady as China moves to tap oil stocks

  • China set to tap state oil reserves for the first time
  • Prices supported by lower US output after Hurricane Ida
  • API data shows crude drawdown less than poll expectations
  • EIA cuts 2021 demand outlook, keeps 2022 forecast steady
Published 09 Sep, 2021 08:43pm
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