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WTI

Oil hits two-year highs
Markets

Oil hits two-year highs

NEW YORK: Oil prices edged up to their highest in over two years in volatile trade on Thursday, on optimism for...
Published 11 Jun, 2021 03:41am
Oil inches higher
Markets

Oil inches higher

LONDON: Oil prices inched higher on Friday, with Brent holding near $70 a barrel as strong US economic data and...
Published 29 May, 2021 03:59am
TSX futures point to flat open
Markets

TSX futures point to flat open

  • Brent crude oil futures rose 1.11% to $69.3 a barrel, while West Texas Intermediate (WTI) US crude futures gained 1.16% to $66.1 a barrel.
  • Gold prices edged lower, dragged down by higher US Treasury yields ahead of inflation data.
Published 12 May, 2021 04:57pm
Oil rises but remains rangebound as COVID-19 cases soar
Markets

Oil rises but remains rangebound as COVID-19 cases soar

  • However, the crude prices have remained rangebound in the past three weeks, with Brent between $60 and $65 a barrel and WTI at $57 to $62.
  • "Oil prices are entering a consolidation phase after swinging wildly last month," said oil broker PVM's Stephen Brennock.
Published 12 Apr, 2021 05:59pm
Oil prices dip on mixed supply and demand outlook
Markets

Oil prices dip on mixed supply and demand outlook

  • Brent crude futures for June fell 32 cents, or 0.32%, to $62.88 a barrel.
  • Both contracts are on track for a 2%-3% drop this week but still far from a low of $60.47 hit two weeks ago. Exerting downward pressure is the decision by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, to increase supplies by 2 million barrels per day between May and July.
Published 09 Apr, 2021 07:35pm
Oil prices rise on fears Suez blockage may last weeks
Markets

Oil prices rise on fears Suez blockage may last weeks

  • Brent, WTI rise about 2% but set for 3rd weekly loss.
  • Ship blocking Suez may take weeks to free-salvage firm.
  • Shipping rates rise, oil and gas tankers diverted.
    • UAE's ADNOC deepens supply cuts to Asia in June –sources.
Published 26 Mar, 2021 05:16pm
Pricing agency Platts defers changes to dated Brent oil benchmark
Markets

Pricing agency Platts defers changes to dated Brent oil benchmark

  • The company said it has opened further consultation with the market on the benchmark transition. The changes, among which was inclusion of US crude WTI Midland in the Brent assessment, were announced on Feb. 22.
  • We received extensive feedback from market participants in support of introducing WTI Midland into the basket, but there is not agreement on how it would be fully reflected into the wider Brent complex.
Published 10 Mar, 2021 07:25pm
BofA hikes 2021 Brent price view by $10/bbl on strong oil balances
Business & Finance

BofA hikes 2021 Brent price view by $10/bbl on strong oil balances

  • The bank now expects Brent crude oil to average $60 per barrel in 2021, up from a previous estimate of $50. BofA also forecasts West Texas Intermediate (WTI) crude prices to average $57 a barrel this year.
  • Brent prices could temporarily spike to $70 a barrel in the second quarter of the year, the bank's analysts said in a note.
Published 23 Feb, 2021 07:01pm