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Oil prices fall as Delta variant spread weighs | Reuters

Oil prices fall as Delta variant spread weighs | Reuters Oil prices fell on Wednesday as the spread of the coronavirus Delta variant in top consuming countries outweighed Mideast geopolitical tensions and a fall in U.S. inventories.Brent crude oil futures were down 67 cents, or 0.9%, to $71.74 a barrel by 1144 GMT. U.S. West Texas Intermediate (WTI) crude fell 86 cents, or 1.2%, to $69.70 a barrel."Worries continue to grow over the spread of the Delta variant in China, which has weighed heavil...
Tags: Travel, China, United States, Delta, Reuters, Reuters Oil, Mideast, U S West Texas Intermediate WTI, ING, Rupert Neil Bumfrey


Oil settles lower in volatile trade on worries about Delta variant | Reuters

Oil settles lower in volatile trade on worries about Delta variant | Reuters Oil settled lower on Tuesday in volatile trade, as concern about rising cases of the Delta coronavirus variant outweighed expectations for another weekly draw in U.S. invesntories that had boosted prices early.Brent crude oil futures settled down 48 cents, or 0.66% at $72.41 a barrel. U.S. West Texas Intermediate (WTI) crude settled down 70 cents, or 0.98% at $70.56 a barrel.Concerns over the spread of Delta variant i...
Tags: Travel, New York, China, United States, Delta, Reuters, Reuters Oil, Rupert Neil Bumfrey, John Kilduff, Again Capital Management


Oil rises as markets expect further fall in inventories | Reuters

Oil rises as markets expect further fall in inventories | Reuters Oil prices rose on Tuesday on expectation of a further decline in U.S. oil inventories, recouping some losses from the previous session due to lingering concern over rising cases of the Delta coronavirus variant.Brent , the international benchmark for oil prices, was 29 cents, or 0.4% higher, at $73.18 a barrel, by 1111 GMT.U.S. West Texas Intermediate (WTI) crude was up 28 cents, or 0.4%, at $71.54 a barrel.Both markets dropped...
Tags: Travel, Ubs, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, Giovanni Staunovo


Oil falls over 3% on concerns over demand and OPEC supply boost | Reuters

Oil falls over 3% on concerns over demand and OPEC supply boost | Reuters Oil prices fell more than 3% on Monday after weak economic data from China and the United States, the world's top oil consumers, and higher crude output from OPEC producers stoked fears of weakness in oil demand and oversupply.Brent crude oil futures settled down $2.52, or 3.3%, at $72.89 a barrel, while U.S. West Texas Intermediate (WTI) crude ended $2.69, or 3.6%, lower at $71.26."Energy futures...are still expressing ...
Tags: Travel, China, Opec, United States, Reuters, Reuters Oil, Associates LLC, Jim Ritterbusch, Rupert Neil Bumfrey, Ritterbusch, Galena Illinois China


Oil slumps 4% on concerns over demand and OPEC supply boost | Reuters

Oil slumps 4% on concerns over demand and OPEC supply boost | Reuters Oil prices tumbled about 4% on Monday as weak economic data from China and the United States, the world's top oil consumers, and higher crude output from OPEC producers stoked fears of weakness in oil demand and oversupply.Brent crude oil futures slid by $2.65, or 3.5%, to $72.76 a barrel by 11:52 a.m. EDT (1552 GMT). U.S. West Texas Intermediate (WTI) crude dropped fell $2.91, or 3.9%, to $71.04."The complex is reacting pre...
Tags: Travel, China, Opec, United States, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, John Kilduff, Again Capital LLC, NEW YORK China


Oil prices hit by concern over Chinese economy and higher supply | Reuters

Oil prices hit by concern over Chinese economy and higher supply | Reuters Oil prices fell on Monday as worries over China's economy resurfaced after a survey showing growth in factory activity slipped sharply in the world's second-largest oil consumer, with concerns compounded by higher crude output from OPEC producers.Brent crude oil futures slid by 79 cents, or 1.06%, to $74.62 a barrel by 0945 GMT, having earlier touched a low of $74.10.U.S. West Texas Intermediate (WTI) crude futures drop...
Tags: Travel, Asia, China, Opec, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, Edward Moya, OANDA China


Oil prices fall on worries over China economy and higher crude output | Reuters

Oil prices fall on worries over China economy and higher crude output | Reuters Oil prices fell on Monday on worries over China's economy after a survey showed growth in factory activity slipped sharply in the world's second-largest oil consumer, with concerns compounded by a rise in oil output from OPEC producers.Brent crude oil futures slid by 74 cents, or 1%, to $74.67 a barrel by 0653 GMT, after dropping to a low of $74.10 earlier in the day.U.S. West Texas Intermediate (WTI) crude futures...
Tags: Travel, Asia, China, Opec, Reuters, Reuters Oil, Rupert Neil Bumfrey, OANDA, Edward Moya


Oil settles up, Brent tops $76 as U.S. supplies tighten more | Reuters

Oil settles up, Brent tops $76 as U.S. supplies tighten more | Reuters Oil prices rose on Thursday, with global benchmark Brent topping $76 a barrel, as supplies in the United States tightened further after shrinking to the smallest levels since January 2020.Brent crude oil futures settled up $1.31 a barrel, or 1.75% at $76.05 a barrel. U.S. West Texas Intermediate (WTI) crude oil futures settled up $1.23, or 1.7% at $73.62 a barrel.Data from information provider Genscape indicated that the in...
Tags: Travel, United States, Brent, Reuters, Reuters Oil, Cushing Oklahoma, Rupert Neil Bumfrey, U S Energy Information Administration EIA


Oil edges higher on inventory drawdowns, Brent tops $75 a barrel | Reuters

Oil edges higher on inventory drawdowns, Brent tops $75 a barrel | Reuters Oil prices rose on Thursday as crude stockpiles in the United States, the world's top oil consumer, fell to their lowest since January 2020, with Brent crude oil prices pushing back past $75 a barrel.Brent crude oil futures gained 37 cents, or 0.5%, to $75.11 a barrel by 0646 GMT, while U.S. West Texas Intermediate (WTI) crude oil futures increased by 39 cents, or 0.5%, to $72.78 a barrel.Brent topped $75 a barrel for t...
Tags: Travel, Opec, United States, Delta, Brent, ANZ, Reuters, Reuters Oil, Rupert Neil Bumfrey, COVID


Oil settles near $75; sharp U.S. inventory drop counters virus worry | Reuters

Oil settles near $75; sharp U.S. inventory drop counters virus worry | Reuters Oil settled near $75 a barrel on Wednesday after data showed U.S. crude inventories fell more sharply than analysts had forecast, bringing the market's focus back to tight supplies rather than rising COVID-19 infections.Crude inventories fell by 4.1 million barrels in the week to July 23, the U.S. Energy Information Administration said. Gasoline and distillate fuel stocks also dropped."A rebound in implied demand fo...
Tags: Travel, Opec, Matt Smith, Reuters, Reuters Oil, Organization of the Petroleum Exporting Countries, U S Energy Information Administration, Rupert Neil Bumfrey, COVID, ClipperData Brent


Oil nears $75 as U.S. inventory drop counters virus concerns | Reuters

Oil nears $75 as U.S. inventory drop counters virus concerns | Reuters Oil rose towards $75 a barrel on Wednesday ahead of an industry report expected to show U.S. crude inventories fell, bringing the focus back to a tight supply and demand balance rather than rising coronavirus infections.Official U.S. Energy Information Administration inventory figures are out at 1430 GMT. On Tuesday, two market sources citing American Petroleum Institute figures said crude stocks fell 4.7 million barrels, m...
Tags: Travel, EIA, Reuters, Reuters Oil, American Petroleum Institute, Rupert Neil Bumfrey, Stephen Brennock, Official U S Energy Information Administration


Oil prices gain on U.S. fuel drawdown despite rising COVID-19 cases | Reuters

Oil prices gain on U.S. fuel drawdown despite rising COVID-19 cases | Reuters Oil prices climbed on Wednesday after industry data showed U.S. crude and product stockpiles dropped more than expected last week, bolstering expectations that demand will outpace supply growth even amid a surge in COVID-19 infections.Brent crude futures rose 38 cents, or 0.5%, to $74.86 a barrel at 0641 GMT, after shedding 2 cents on Tuesday in the first decline in six days.U.S. West Texas Intermediate (WTI) crude f...
Tags: Travel, Singapore, Reuters, Reuters Oil, Yang, Rupert Neil Bumfrey, Margaret Yang


Oil prices steady as virus spread counters tight supplies | Reuters

Oil prices steady as virus spread counters tight supplies | Reuters Oil prices held steady on Tuesday ahead of the release of U.S. inventory data as investors worried that global demand could be dented by surging COVID-19 cases, even though supplies are tightening and vaccination rates rising.Inventory data was due from the American Petroleum Institute (API) on Tuesday and the U.S. Energy Information Administration on Wednesday.Analysts polled by Reuters expected the data to show U.S. crude st...
Tags: Travel, Reuters, Reuters Oil, U S Energy Information Administration, Rupert Neil Bumfrey, American Petroleum Institute API, Craig Erlam, OANDA Brent


Oil prices flat as tight supply counters virus spread | Reuters

Oil prices flat as tight supply counters virus spread | Reuters Oil prices were little changed on Tuesday, supported by tight supplies and rising vaccination rates but pressured by worries that surging COVID-19 cases worldwide will weigh on demand.Brent futures rose 5 cents, or 0.1%, to $74.55 a barrel by 11:10 a.m. EDT (1510 GMT.U.S. West Texas Intermediate (WTI) crude fell 12 cents, or 0.2%, to $71.79.That still put Brent up for a sixth straight day for the first time since May, on track for...
Tags: Travel, Spain, United States, Portugal, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


Oil inches up as tight supply, vaccinations outweigh virus concerns | Reuters

Oil inches up as tight supply, vaccinations outweigh virus concerns | Reuters Oil prices rose on Tuesday with investors betting tight supply and rising vaccination rates will help offset any impact on demand due to surging COVID-19 cases worldwide.Brent crude futures climbed 34 cents, or 0.46%, to $74.84 a barrel at 0508 GMT, extending a 0.5% gain on Monday.U.S. West Texas Intermediate (WTI) crude futures rose 20 cents, or 0.28%, to $72.11 a barrel, after losing 16 cents on Monday.Benchmark pr...
Tags: Travel, White House, Spain, United States, Asia Pacific, Portugal, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, OANDA, Jeffrey Halley


Oil steadies in undersupplied market but coronavirus cases weigh | Reuters

Oil steadies in undersupplied market but coronavirus cases weigh | Reuters Oil prices steadied on Monday after a choppy session as the spread of the COVID-19 Delta variant stoked fears about fuel demand, but losses were limited by forecasts that crude supply will be tight the rest of the year.Brent crude futures rose 40 cents, or 0.5%, to end the session at $74.50 a barrel, while U.S. West Texas Intermediate crude slipped by 16 cents, or 0.2%, to settle at $71.91.Early in the session, both ben...
Tags: Travel, China, Reuters, Reuters Oil, Rupert Neil Bumfrey, Craig Erlam, OANDA, COVID


Oil falls $1/bbl as coronavirus, floods threaten demand | Reuters

Oil falls $1/bbl as coronavirus, floods threaten demand | Reuters Oil prices fell nearly $1 on Monday as concerns about fuel demand from the spread of COVID-19 variants, as well as floods in China, offset expectations of tight supplies through the rest of the year.Brent crude futures for September fell 95 cents, or 1.3%, to $73.15 a barrel by 0627 GMT while U.S. Texas Intermediate crude was at $71.11 a barrel, down 96 cents. Earlier, both contracts dipped just over $1.Coronavirus cases continu...
Tags: Travel, China, Singapore, Beijing, Reuters, Reuters Oil, Avtar Sandu, Rupert Neil Bumfrey, Phillips Futures, U S Texas Intermediate


Oil up $1.50/bbl as demand recovery seen tightening supply | Reuters

Oil up $1.50/bbl as demand recovery seen tightening supply | Reuters Oil prices rose about $1.50 a barrel on Thursday, extending gains made in the previous three sessions on expectations of tighter supplies through 2021 as economies recover from the coronavirus crisis.Brent crude settled at $73.79 a barrel, up $1.56, or 2.2%, while U.S. West Texas Intermediate (WTI) settled at $71.91 a barrel, rising $1.61, or 2.3%."The death of demand was greatly exaggerated," said Phil Flynn, senior analyst ...
Tags: Travel, Russia, Opec, Chicago, Morgan Stanley, Reuters, Reuters Oil, Petroleum Exporting Countries, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, Phil Flynn, Price Futures Group


Oil prices slip after rise in U.S. crude oil stocks | Reuters

Oil prices slip after rise in U.S. crude oil stocks | Reuters Oil prices slipped on Thursday after an unexpected rise in U.S. crude oil inventories and as rising COVID-19 infections threaten demand, but prices held on to most of their gains from the previous session on expectations that supplies will remain tight through year-end.Brent crude fell 11 cents, or 0.2%, to $72.12 a barrel at 0644 GMT, after rising 4.2% in the previous session. U.S. West Texas Intermediate (WTI) crude fell 6 cents, ...
Tags: Travel, Europe, Delta, Reuters, Reuters Oil, Rupert Neil Bumfrey, Southeast Asia Australia, Edward Moya, OANDA Oil


Oil climbs over 4% despite rise in U.S. inventories | Reuters

Oil climbs over 4% despite rise in U.S. inventories | Reuters Oil prices rose more than 4% Wednesday, extending gains from the previous session as improved risk appetite provided support despite data showing an unexpected rise in U.S. oil inventories.Brent crude futures rose $2.88, or 4.2%, to settle at $72.23 a barrel. U.S. West Texas Intermediate (WTI) crude futures rose $3.1, or 4.6%, to settle at $70.30 a barrel.Futures are rebounding after dropping around 7% on Monday, following a deal by...
Tags: Travel, Japan, Opec, Delta, Reuters, Reuters Oil, Organization of Petroleum Exporting Countries, United States Britain, Rupert Neil Bumfrey


Oil extends gains despite rise in U.S. inventories | Reuters

Oil extends gains despite rise in U.S. inventories | Reuters Oil prices rose more than 3% Wednesday, extending gains from the previous session as improved risk appetite provided support despite data showing an unexpected rise in U.S. oil inventories last week and a weaker demand outlook due to rising COVID-19 infections.Brent crude futures had gained $2.13, or 3.1%, to $71.48 a barrel by 1403 GMT. U.S. West Texas Intermediate (WTI) crude futures rose by $2.27, or 3.4%, to $69.47 a barrel."Oil ...
Tags: Travel, Opec, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, Ricardo Evangelista


Oil retreats on surprise rise in U.S. stocks, weakening demand outlook | Reuters

Oil retreats on surprise rise in U.S. stocks, weakening demand outlook | Reuters Oil prices fell on Wednesday after an industry report showed an unexpected build-up in U.S. oil inventories last week, which heightened worries about a resurgence in COVID-19 infections potentially dampening fuel demand.Brent crude futures fell 36 cents, or 0.5%, to $68.98 a barrel at 0627 GMT, giving up some of Tuesday's 1.1% gain.U.S. West Texas Intermediate (WTI) crude futures dropped 36 cents, or 0.5%, to $66....
Tags: Travel, Reuters, Reuters Oil, American Petroleum Institute, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, API ING Economics, American Petroleum Institute U S


Oil resumes drop as COVID-19 and supply concerns weigh | Reuters

Oil resumes drop as COVID-19 and supply concerns weigh | Reuters Oil dropped towards $68 a barrel on Tuesday, extending the previous session's steep slide, pressured by concern that rising COVID-19 infections could weaken demand again just when OPEC+ is increasing supply.Monday's selloff had pushed oil to a two-month low and hit other riskier assets. While equities avoided a new selloff on Tuesday, U.S. Treasury and German bond yields also slipped as a reminder that investors remained worried....
Tags: Travel, Opec, Reuters, Reuters Oil, U S Treasury, Rupert Neil Bumfrey, Stephen Brennock


Oil rises but COVID-19, supply concerns cloud outlook | Reuters

Oil rises but COVID-19, supply concerns cloud outlook | Reuters Oil prices stabilised on Tuesday after slumping around 7% in the previous session amid a broader market retreat led by concerns about rising COVID-19 infections, which came just as producers inked a new supply deal.Brent crude gained 70 cents, or 1%, to $69.32 a barrel by 0651 GMT. The U.S. crude contract for August delivery, which expires later on Tuesday, was up 86 cents, or 1.3%, at $67.28 a barrel. U.S. crude for September del...
Tags: Travel, Delta, Reuters, Reuters Oil, Rupert Neil Bumfrey, ING Economics, COVID


Oil piles on losses following OPEC+ deal to boost supply, rising COVID cases | Reuters

Oil piles on losses following OPEC+ deal to boost supply, rising COVID cases | Reuters Oil slumped $5 a barrel on Monday, closing out its worst day since March, after an OPEC+ agreement to boost output stoked fears of a surplus just as rising COVID-19 infections once again threaten demand.Crude oil's year-long recovery has stalled out over the last two weeks due to the prospect of new supply undermining the case for higher prices. With the Delta variant of the coronavirus spreading worldwide -...
Tags: Travel, India, Opec, Chicago, United States, Delta, Reuters, Reuters Oil, Rupert Neil Bumfrey, Phil Flynn, Price Futures Group, COVID


Oil slumps 6% amid OPEC+ deal to boost supply, rising COVID cases | Reuters

Oil slumps 6% amid OPEC+ deal to boost supply, rising COVID cases | Reuters Oil prices plunged more than $4 a barrel on Monday, headed for its worst day since March, after OPEC+ agreed to boost output, stoking fears of a surplus as rising COVID-19 infections in many countries threaten demand.Crude oil's year-long surge has been sputtering for most of the last two weeks with the prospect of new supply undermining the case for higher prices. With the Delta variant of the coronavirus spreading, f...
Tags: Travel, Opec, Reuters, Reuters Oil, Petroleum Exporting Countries, Rupert Neil Bumfrey, COVID


Oil falls more than $2 after OPEC+ producers agree to raise output | Reuters

Oil falls more than $2 after OPEC+ producers agree to raise output | Reuters Oil prices fell sharply on Monday after OPEC+ overcame internal divisions and agreed to boost output, sparking concerns about a crude surplus as COVID-19 infections rise in many countries.Brent crude was down $2.54, or 3.4%, at $71.05 a barrel by 1235 GMT. U.S. oil was down $2.64, or 3.6%, at $69.17 a barrel. Both benchmarks recorded their largest declines since early April.OPEC+ ministers agreed on Sunday to increase...
Tags: Travel, Russia, Opec, Reuters, Reuters Oil, Rupert Neil Bumfrey


Oil drops as OPEC+ agreement raises prospect of more supply | Reuters

Oil drops as OPEC+ agreement raises prospect of more supply | Reuters Oil prices recouped some losses on Monday, but were still down after OPEC+ overcame internal divisions and agreed to boost output, which sparked concerns about a crude surplus as COVID-19 infections continue to rise in many countries.Brent crude was down 61 cents, or 0.8%, at $72.98 a barrel by 0617 GMT, after falling to $72.35 earlier in the session. U.S. oil was down 66 cents, or 0.9%, at $71.15 a barrel, having slipped to...
Tags: Travel, Russia, Opec, Goldman Sachs, Reuters, Reuters Oil, Rupert Neil Bumfrey


Oil falls for the week on supply concerns, rising COVID cases | Reuters

Oil falls for the week on supply concerns, rising COVID cases | Reuters Oil prices were little changed on Friday and ended the week lower, sapped in volatile trade by expectations of growing supplies just when a rise in coronavirus cases could lead to lockdown restrictions and depressed demand.Brent futures rose 12 cents, or 0.2%, to settle at $73.59 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 16 cents, or 0.2%, to settle at $71.81. Earlier in the volatile session, both bench...
Tags: Travel, Brent, Reuters, Reuters Oil, Baker Hughes, Rupert Neil Bumfrey


Oil edges up but on track for big weekly drop on supply concerns | Reuters

Oil edges up but on track for big weekly drop on supply concerns | Reuters Oil edged up after turning positive in volatile trade on Friday following supportive U.S. economic news, but prices were on track to decline this week as expectations for more supply and a rise in coronavirus cases that raised demand concerns.Brent futures rose 31 cents, or 0.4%, to $73.78 a barrel by 11:52 a.m. EDT (1552 GMT), while U.S. West Texas Intermediate (WTI) crude rose 38 cents, or 0.5%, to $72.03. Earlier in ...
Tags: Travel, Reuters, Reuters Oil, Rupert Neil Bumfrey



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