Oil was up on Monday morning in Asia, starting the week off strong after investor sentiment was boosted by signs of tighter supplies. Brent oil futures rose 1.26% to $42.49 by 9:38 PM ET (2:38 AM GMT) and WTI futures gained 0.73% to $40.12. Brent futures flipped...
In a little-noticed report, JPMorgan Chase warned in early March that the oil market could be on the cusp of a "supercycle" that sends Brent crude skyrocketing as high as $190 a barrel in 2025. Weeks later, the coronavirus pandemic set off an epic collapse in...
Oil prices fell around 2% on Thursday as a spike in new coronavirus cases in China and the United States renewed fears that people would stay home, stalling a recovery in fuel demand even as lockdowns ease. U.S. West Texas Intermediate (WTI) crude futures dropped 2.1%, or...
-Oil was down on Wednesday after the American Petroleum Institute (API) predicted a second consecutive week of increases in the crude oil supply. API reported a 3.9 million-barrel build for the week ending June 12 on Tuesday. Brent oil futures slid 0.84% to $40.37 by 9:53 PM...
Oil prices rose on Monday as signs fuel demand was recovering while OPEC+ members were complying with a production cut deal outweighed fears that new coronavirus infections could further slow the global economy. West Texas Intermediate crude rose 86 cents, or 2.37%, to settle at $37.12...
-BP has forecast lower oil prices for decades to come as governments speed up plans to cut carbon emissions in the wake of the coronavirus pandemic. It has cut price forecasts by about 30%, and expects Brent crude to average $55 a barrel from now until...
- Oil prices fell on Friday, extending heavy overnight losses as a surge in U.S. coronavirus cases this week raised the prospect of a second wave of the COVID-19 outbreak hitting demand in the world's biggest consumer of crude and fuel. West Texas Intermediate (CLc1) was...
Nigeria will implement all of the oil-production cuts agreed with the OPEC+ coalition by mid-July at the latest, the head of its state oil company said. The latest agreement by the 23-nation alliance, struck over the weekend, hinged on promises from the African producer and others...
-Oil was up on Tuesday morning in Asia, slowly gaining back some of its losses from the previous session, as investors digest Saudi Arabia’s unexpected U-turn on production cuts. Saudi Energy Minister Prince Abdulaziz bin Salman told a news conference overnight that Saudi Arabia, as well...
-Oil prices rose on Friday after OPEC decided to move up discussions on whether to extend record production cuts to Saturday, indicating that some laggard countries may have agreed to align themselves with the deal. Brent crude futures were up $2.46, or 6.2%, to trade at...
