Oil prices reversed a sharp selloff a day earlier to rise 1 on Friday on mounting fears that it could take weeks to dislodge a giant container ship blocking the Suez Canal, which would squeeze supplies of crude and refined products. Prices, however, were still headed for a third consecutive weekly loss, with the outlook […]

Crudeoil futures were under renewed pressure Thursday as worries over rising COVID19 cases in major oilconsuming countries outside the U.S. underlined worries over the energy demand outlook. Traders kept an eye on the progress of moving a ship that blocks the Suez Canal, which has led to a halt in shipping through one of the worlds […]

Oil prices fell more than 2 as fresh coronavirus lockdowns revived worries about demand for oil products, even as tug boats struggled to move a stranded container ship blocking crude oil carriers in the Suez Canal. Brent crude futures slid 1.33, or 2.1, to 63.08 a barrel at 0559 GMT, after jumping 6 overnight. U.S. […]

Oil futures rose Wednesday, partially recovering from a rout in the previous session after a container ship ran aground in the Suez Canal, blocking traffic through the crucial waterway. About 10 of global seaborne oil passes through the canal. This should be fixed pretty quickly though so I doubt if it will have much lasting impact, said […]

Oil prices steadiedr on Wednesday, following the previous days slump, but the recovery was stunted by fears of a slow recovery in demand due to new pandemic lockdowns in Europe and a build in U.S. crude stocks. Brent crude futures rose 8 cents, or 0.1, to 60.87 a barrel by 0454 GMT, after tumbling 5.9 […]

Oil futures fell sharply Tuesday, pressured by fears renewed lockdowns to combat the coronavirus pandemic in Europe would crimp energy demand. West Texas Intermediate crude for May delivery down 2.44, or 4, at 59.12 a barrel on the New York Mercantile Exchange. May Brent crude the global benchmark, dropped 2.69, or 4.2, to 61.93 a barrel on […]

Crudeoil futures headed higher on Monday, finding support after suffering from their largest weekly loss since October. Worries over renewed lockdowns and a sluggish vaccine rollout in parts of Europe continued to dog energy markets but oil already priced in a lot of COVID worries last week with a dramatic selloff, said Phil Flynn, senior […]

Oil prices fell on Friday for a sixth day in a row, down nearly 9 for the week, as a new wave of COVID19 infections in particular across Europe spurred fresh lockdowns and dampened hopes for an imminent recovery in fuel demand. U.S. West Texas Intermediate WTI crude fell 4 cents, or 0.07, to 59.96 […]

Oil futures lost ground Wednesday, after the International Energy Agency deemed a supercycle for the commodity unlikely in its latest forecasts, while traders looked ahead to official data on U.S. crude inventories after an industry group reported a fall in stocks. West Texas Intermediate crude for April delivery fell 60 cents, or 0.9, to 64.20 a […]

Oil futures fell Tuesday, with analysts noting that nearby futures on U.S. benchmark crude have slumped below laterdated contracts, reflecting concerns over a buildup in inventories after last months Texas deep freeze. West Texas Intermediate crude for April delivery was down 76 cents, or 1.1, at 64.63 a barrel on the New York Mercantile Exchange. The […]