Oil prices slipped on Monday, paring strong gains made in the previous session after OPEC agreed last week to gradually ease some of its production cuts between May and July. Brent crude futures for June fell 33 cents, or 0.5, to 64.53 a barrel by 0206 GMT while U.S. West Texas Intermediate crude for May […]

A group consisting of some of the worlds most powerful oil producers on Thursday will meet to decide on the next phase of output policy. OPEC and nonOPEC partners, a group sometimes referred to as OPEC , convened for talks via videoconference at around 125 p.m. London time. The OPEC alliance is currently cutting by […]

Crude prices rose on Thursday, recouping some of the previous sessions losses on expectations that a meeting of OPEC and its allies later on Thursday would yield output constraint in the face of resurgent COVID19 infections in some regions. Brent crude for June delivery was up by 31 cents, or 0.5, at 63.05 a barrel […]

Oil futures traded near unchanged Wednesday after an industry group reported a rise in U.S. crude inventories ahead of official data and investors awaited a meeting of OPEC and its allies on production curbs. West Texas Intermediate crude for May delivery rose 3 cents, or less than 0.1, to 60.58 a barrel on the New York […]

Oil prices rose on Wednesday, paring overnight losses a day ahead of a meeting of OPEC and its allies, with investors betting the producers will largely agree to extend their supply curbs into May. Brent crude futures rose 15 cents, or 0.2, to 64.29 a barrel at 0202 GMT, after falling 1.3 on Tuesday. U.S. […]

Crudeoil futures traded higher Monday morning as reports ahead of a key meeting of oil producers overshadowed the partial freeing of the worlds largest container vessel, which had blocked the Suez Canal for about a week, producing massive logjams in global trade and straining energy assets. News that Russia would support a rollover to May […]

Fund managers sold petroleum last week at the fastest rate since successful coronavirus vaccines were announced in November, as a resurgence of infections and a loss of upward price momentum triggered profittaking. Hedge funds and other money managers sold the equivalent of 88 million barrels of petroleum futures and options in the week to March […]

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. […]