Oil futures moved lower Tuesday, on track to suffer a second straight day of losses as traders awaited data that may reveal a third weekly climb in U.S. crude inventories. A more definite price direction is expected soon, when the U.S. weekly oil inventory report reveals estimates on how oil stocks performed last week, said […]

Oil prices fell on Tuesday, reversing earlier gains, on receding fears of a supply disruption in Saudi Arabia, the worlds biggest oil exporter, after an attack on its export facilities, and on concerns a stronger U.S. dollar would crimp demand. Prices rose earlier on expectations of a recovery in the global economy after the U.S. […]

Brent crude futures climbed above 70 a barrel on Monday for the first time since the COVID19 pandemic began, while U.S. crude touched its highest in more than two years, following reports of attacks on Saudi Arabian facilities. Brent crude futures for May hit 71.38 a barrel in early Asian trade, the highest since Jan. […]

Goldman Sachs Commodities Research raised its Brent forecast for second and third quarter by 5 a barrel after OPEC and its allies kept the deal unchanged, and said discipline of shale producers is likely behind the groups slower output increase. The Wall Street bank now sees Brent prices at 75 a barrel in second quarter […]

Oil prices rose more than 1 on Friday, extending gains from the previous session, after OPEC and its allies agreed not to increase supply in April as they await a more substantial recovery in demand amid the coronavirus pandemic. Brent crude futures for May rose 83 cents, or 1.2, to 67.57 a barrel at 0609 […]

Oil futures climbed Thursday as traders awaited a decision from the Organization of the Petroleum Exporting Countries and its allies on whether to ease production curbs as they gauge the strength of the global economy. All eyes are on OPEC, as the group as known. Members must decide whether to stick with a plan that […]

OPEC and allies, known as OPEC, are considering rolling over oil production cuts from March into April instead of raising output because of fragile oil demand recovery due to persisting worries about the coronavirus, three OPEC sources told Reuters. OPEC ministers hold a full meeting on Thursday. The market had been widely expecting OPEC to […]

Oil prices rose on Wednesday, boosted by expectations that OPEC producers might decide against increasing output when they meet this week, while signs of progress in the coronavirus vaccine rollout in the United States gave further support. Brent oil rose 80 cents, or 1.3, to 63.50 a barrel by 0942 GMT. U.S. West Texas Intermediate […]

When the world economy slammed on the brakes last year, there was a rush to store a wave of unwanted crude and products, but rising prices and optimism about demand is spurring a swift unwinding of storage contracts. At the end of February, the volume of refined products held on stationary tankers for over 10 […]

Oil futures inched higher Monday, buoyed by prospects for the passage of the U.S. stimulus bill, ahead of a decision this week by the Organization of the Petroleum Exporting Countries and its allies thats expected to see a loosening of production curbs. The U.S. House early Saturday passed the Biden administrations 1.9 trillion package of COVID19 relief […]