Oil was up Wednesday morning in Asia, boosted by a draw in U.S. crude supplies that reinforced expectations that fuel demand will outstrip supply growth. However, increasing numbers of COVID-19 cases globally capped the black liquid’s gains. Brent oil futures gained 0.65% to $74 by 11:26 PM ET (3:26...
West Texas Intermediate crude futures fell below the key $70 level Monday for the first time in more than a month as OPEC and its allies agreed to raise output, and as the delta Covid variant threatens global demand. U.S. oil settled 7.51% lower at $66.42 per...
America’s oil demand has soared to new heights in a remarkable turnaround from just a year ago when the pandemic sent the U.S. economy into a tailspin and decimated demand. A rolling average of U.S. total oil products supplied – an indicator of consumption – jumped...
European stock markets edged lower Monday, with investors keeping a wary eye on the oil market, while the prospect of a bidding war for Wm Morrison (LON:MRW) sparked interest across the U.K. grocery sector. At 3:45 AM ET (0745 GMT), the DAX in Germany traded 0.6% lower, the CAC...
Asia-Pacific stocks jumped on Friday, with shares in Hong Kong and mainland China among the region’s biggest gainers. Hong Kong’s Hang Seng index jumped 1.4% to close at 29,288.22. Shares of Chinese tech firms listed in the city surged: Tencent rose 2.66%, Alibaba jumped 2.57% while Meituan soared 4.76%. The broader Hang Seng Tech index...
Oil gained for a fifth day on Wednesday, climbing towards $75 a barrel to its highest since April 2019, supported by a recovery in demand from the pandemic and a drop in U.S. crude inventories. The American Petroleum Institute reported U.S. crude inventories fell 8.5 million barrels, two...
