(Reuters) - Oil prices rose on Friday, heading towards a sixth consecutive weekly gain, as geopolitical tensions continue to raise supply concerns. Brent crude futures were up 63 cents, or 0.7%, at $89.97 a barrel by 1013 GMT, having hit $91.04 on Thursday for their highest since October 2014. U.S. West Texas Intermediate (WTI) crude... Continue Reading →
(Reuters) - Oil extended gains to seven-year highs above $90 a barrel on Thursday as the Ukraine crisis outweighed signs that the U.S. Federal Reserve will tighten monetary policy. Brent crude futures were up 89 cents, or 1%, at $90.85 a barrel by 1217 GMT. U.S. West Texas Intermediate (WTI) crude futures were up 87... Continue Reading →
Oil touched $90 a barrel for the first time in seven years on Wednesday, supported by tight supply and rising political tensions in Europe and the Middle East that raised concerns about further disruption in an already-tight market. Brent crude rose $1.67, or 1.9%, to $89.87 by 10:40 a.m. EST (1540 GMT), after hitting $90.02,... Continue Reading →
(Reuters) - Oil rose towards $89 a barrel on Wednesday, within sight of a seven-year high, supported by tight supply and geopolitical tensions in Europe and the Middle East that raise concerns about further disruption. U.S. President Joe Biden said on Tuesday he would consider personal sanctions on President Vladimir Putin if Russia invades Ukraine.... Continue Reading →
(Reuters) - Oil prices rose on Monday on worries about supply disruption amid concerns about Russia-Ukraine discord and rising tensions in the Middle East, which could make an already tight market even tighter. Brent crude rose 31 cents, or 0.4%, to $88.20 a barrel by 1009 GMT. U.S. West Texas Intermediate (WTI) crude gained 21... Continue Reading →
Morgan Stanley expects Brent crude oil prices to advance to $100 a barrel in the second half of this year, with the market heading for a simultaneous "triple deficit" of inventories, spare capacity, and investment. "The key oil products markets (gasoline, jet fuel, and gasoil/diesel) all show strong crack spreads, steep backwardation, and inventories that... Continue Reading →
(Reuters) - Oil supply will soon overtake demand as some producers are set to pump at or above all-time highs, the International Energy Agency (IEA) said on Wednesday, while demand holds up despite the spread of the Omicron coronavirus variant. "This time around, the surge is having a more muted impact on oil use," the... Continue Reading →
(Reuters) - Benchmark oil prices climbed to their highest level since 2014 on Tuesday as possible supply disruption after attacks in the Mideast Gulf added to an already tight supply outlook. Brent crude futures rose $1.02, or 1.2%, to $87.50 a barrel by 0924 GMT, while U.S. West Texas Intermediate (WTI) crude futures jumped $1.36,... Continue Reading →
(Reuters) - Oil prices were steady on Monday as investor bets that global supply will remain tight amid restraint by major producers were offset by a rise in Libyan output. Brent crude was down 24 cents, or 0.3%, at $85.82 a barrel by 1200 GMT. Earlier in the session, the contract touched its highest since... Continue Reading →
(Reuters) - Frantic oil buying driven by supply outages and signs the Omicron variant won't be as disruptive as feared has pushed some crude grades to multi-year highs, suggesting the rally in Brent futures could be sustained a while longer, traders said. Prices for physical cargoes do not always trade in tandem with oil futures... Continue Reading →
