Oil prices slid by up to 2 in early trade on Friday, adding to overnight declines, on worries that refineries will take time to resume operations after the big freeze in the U.S. South, creating a gap in demand, while OPEC supplies were expected to rise. The market was ripe for a correction and signs […]

Oil futures traded higher Monday, resuming a push to the upside as traders looked for a slow recovery in output following winter storms that knocked U.S. producers and refineries offline. West Texas Intermediate crude for March delivery rose 62 cents, or 1, to 59.86 a barrel on the New York Mercantile Exchange. April WTI, the mostactively traded […]

OPEC and U.S. oil companies see a limited rebound in shale oil supply this year as top U.S. producers freeze output despite rising prices, a decision that would help OPEC and its allies. OPEC this month cut its 2021 forecast for U.S. tight crude, another term for shale, and expects production to decline by 140,000 […]

Oil prices rose on Monday as the slow return of U.S. crude output cut by frigid conditions served as a reminder that the supply situation was tight, just as demand recovers from the depths of the COVID19 pandemic. Brent crude was up 55 cents, or 0.9, at 63.46 a barrel by 0742 GMT, after gaining […]

Oil prices jumped by more than 1 on Tuesday, underpinned by optimism over COVID19 vaccine rollouts and lower output as U.S. supplies were slow to return after a deep freeze in Texas shut in crude production last week. Shale oil producers in the southern United States could take at least two weeks to restart the […]

Oil prices edged higher on Wednesday amid continued outages in the United States and a weaker dollar, but a surprise build in U.S. inventories last week capped gains. Brent crude futures gained 52 cents, or 0.8, to 65.89 a barrel at 1109 GMT, after hitting a session low of 64.80. U.S. West Texas Intermediate WTI […]

Oil futures pushed higher Wednesday, but traders sounded a cautious note after an industry group reported an unexpected rise in crude inventories and the Organization of the Petroleum Exporting Countries and their allies prepared to meet next week. West Texas Intermediate crude for April delivery rose 60 cents, or 1, to 62.27 a barrel on the […]

Oil futures rose Thursday, on track for a fourth straight winning session as crude tests levels last seen in January of 2020 as traders found reassurance in testimony this week by Federal Reserve Chairman Jerome Powell. West Texas Intermediate crude for April delivery rose 30 cents, or 0.5, to 63.52 a barrel on the New York […]

Oil prices fell on Friday as bond price rout led to gains in the U.S. dollar while crude supply is expected to rise in response to prices climbing above prepandemic levels. Brent crude futures for April, which expire on Friday, fell 99 cents, or 1.4, to 65.89 a barrel by 1203 GMT. The more actively […]

Oil futures saw significant pressure Friday, with the U.S. benchmark pulling back from a 22month high, as a rise by the U.S. dollar and jitters ahead of next weeks meeting of the Organization of the Petroleum Exporting Countries and its allies appeared to prompt a round of profittaking. A jump in U.S. Treasury yields on […]