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Oil falls on China's COVID-19 cases, high crude build | Reuters

Oil falls on China's COVID-19 cases, high crude build | Reuters Oil prices settled lower on Friday, weighed down by a build in U.S. crude inventories and worries that new pandemic restrictions in China will curb fuel demand in the world’s biggest oil importer.Brent crude futures fell 69 cents to settle at $55.41 a barrel, for a 0.4% change on the week.U.S. West Texas Intermediate (WTI) crude futures fell 86 cents, or 1.6%, settling at $52.27, nearly unchanged from the beginning of the week.Overa...
Tags: Travel, China, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


Oil steadies after unexpected build in U.S. crude stockpiles | Reuters

Oil steadies after unexpected build in U.S. crude stockpiles | Reuters Oil prices steadied on Thursday after industry data showed a surprise increase in U.S. crude inventories that revived pandemic-related fuel demand concerns, while U.S. stimulus hopes buoyed prices.Brent crude futures rose 2 cents to settle at $56.10 a barrel. U.S. West Texas Intermediate (WTI) crude futures fell 18 cents to settle at $53.13 a barrel.Both benchmarks rose over the past two days on expectations of massive COVID-...
Tags: Travel, Joe Biden, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


Oil dips after surprise rise in U.S. crude stocks; focus on Biden, stimulus | Reuters

Oil dips after surprise rise in U.S. crude stocks; focus on Biden, stimulus | Reuters Oil slipped on Thursday after industry data showed a surprise build in U.S. crude inventories that reignited pandemic-led demand concerns, but stimulus hopes in the United States capped the downturn in prices.U.S. West Texas Intermediate (WTI) crude futures dipped 19 cents, or 0.4%, to $53.12 a barrel at 0725 GMT, following two days of gains on expectations of massive COVID-19 relief spending under new U.S. Pre...
Tags: Travel, United States, Biden, Reuters, Reuters Oil, American Petroleum Institute, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, Joe Biden Brent


Oil rises on U.S. stimulus hopes, tighter market under Biden | Reuters

Oil rises on U.S. stimulus hopes, tighter market under Biden | Reuters Oil edged higher on Wednesday on expectations that U.S. President Joe Biden’s administration will deliver hefty pandemic-related economic stimulus that will lift fuel demand and enact policies that will tighten crude supply.Biden, who was inaugurated on Wednesday, immediately was set to take measures to curb the U.S. oil industry, including a plant to re-enter the Paris climate accord, cancelling a permit for the Keystone XL ...
Tags: Travel, New York, Joe Biden, Paris, Janet Yellen, Biden, Reuters, Reuters Oil, U S Treasury, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, John Kilduff, Again Capital LLC, Arctic Brent


Oil rise on hopes of U.S. stimulus, crude stocks drawdown | Reuters

Oil rise on hopes of U.S. stimulus, crude stocks drawdown | Reuters Oil prices rose on Wednesday, building on solid gains overnight, thanks to a combination of a weaker dollar and expectations the incoming U.S. administration will deliver massive stimulus spending that would lift fuel demand and draw down crude stocks.U.S. West Texas Intermediate (WTI) crude futures climbed 41 cents, or 0.77%, to $53.39 a barrel at 0750 GMT, building on a 1.2% rise on Tuesday.Brent crude futures rose 37 cents, o...
Tags: Travel, Joe Biden, Treasury, Janet Yellen, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


Oil prices climb on Chinese data, dollar weakness | Reuters

Oil prices climb on Chinese data, dollar weakness | Reuters Oil prices edged higher on Thursday, boosted by a weak dollar and bullish signals from Chinese import data but pressured by renewed worries about global oil demand due to surging coronavirus cases in Europe and new lockdowns in China.Brent crude oil futures rose 36 cents, or 0.6%, to settle at $56.42 a barrel. U.S. West Texas Intermediate (WTI) ended 66 cents, or 1.3%, higher at $53.57.The U.S. dollar index slumped after U.S Federal Res...
Tags: Travel, Europe, China, Joe Biden, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Jerome Powell, U S Federal Reserve Chair, Rupert Neil Bumfrey


Oil prices edge up on strong China data, U.S. crude oil draw | Reuters

Oil prices edge up on strong China data, U.S. crude oil draw | Reuters Oil prices edged higher on Thursday after a drawdown in U.S. crude stocks for a fifth straight week and robust data from China showing a surge in imports, though mounting coronavirus cases globally capped gains.Brent crude oil futures gained 13 cents, or 0.2%, to $56.19 a barrel by 0744 GMT, while U.S. West Texas Intermediate (WTI) increased 20 cents, or 0.4%, to $53.11 a barrel.China’s total crude oil imports rose 7.3% in 20...
Tags: Travel, China, Reuters, Reuters Oil, ANZ Bank, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


Oil ends lower, retreating from recent gains as COVID cases rise | Reuters

Oil ends lower, retreating from recent gains as COVID cases rise | Reuters Oil prices fell on Wednesday, pulling back from recent gains, on concerns that rising global COVID-19 will hamper global fuel demand.The market did find some support from weekly inventory figures that showed a drop in crude inventories and rising refinery production.Brent crude prices settled at $56.06 a barrel, down 52 cents, or 0.9%. U.S. West Texas Intermediate (WTI) settled at $52.91 a barrel, falling 30 cents, or 0.6...
Tags: Travel, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


Oil steadies as U.S. inventory fall tempers demand woes | Reuters

Oil steadies as U.S. inventory fall tempers demand woes | Reuters Oil prices were broadly steady on Wednesday as rising global COVID-19 cases took the shine off an earlier rally spurred by a bigger-than-expected drop in U.S. crude inventories.Brent crude prices were up 11 cents, or 0.2%, at $56.69 a barrel by 1311 GMT. Prices rose as far as $57.42 a barrel earlier in the session, the highest since Feb. 24.The next milestone for Brent prices is a rise above $60, a level not seen since late Januar...
Tags: Travel, Brent, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


Oil rises above $56 as tighter supply offsets virus concern | Reuters

Oil rises above $56 as tighter supply offsets virus concern | Reuters Oil rose above $56 a barrel on Tuesday and stayed close to an 11-month high, as tighter supply and expectations of a drop in U.S. inventories offset concerns over climbing coronavirus cases globally.Saudi Arabia has said it will cut output by an extra 1 million barrels per day (bpd) in February and March to stop inventories from building up. The latest U.S. oil supply reports are expected to show crude stocks fell for a fifth ...
Tags: Travel, Saudi Arabia, China, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, AXi, Stephen Innes


Oil gains with supply constraints in focus after Saudi cuts | Reuters

Oil gains with supply constraints in focus after Saudi cuts | Reuters Oil prices rose almost 1% on Thursday after a fall in U.S. stockpiles added further support following the unilateral decision by Saudi Arabia, the world’s biggest exporter, to cut output over the next two months.It was not immediately clear how the storming of the U.S. Capitol by supporters of President Donald Trump would impact oil markets, although some analysts believe President-elect Joe Biden’s administration will clamp d...
Tags: Travel, Saudi Arabia, Russia, Opec, Joe Biden, Donald Trump, Reuters, Reuters Oil, Organization of the Petroleum Exporting Countries, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


Oil rises to 10-month high after #Saudi output cut, U.S. inventory draw | Reuters

Oil rises to 10-month high after Saudi output cut, U.S. inventory draw | Reuters Oil prices rose to their highest levels since February on Wednesday after Saudi Arabia announced a big voluntary production cut and on a steep fall in U.S. crude inventories.Futures contracts pared gains in thin post-settlement trade after protesters stormed the U.S. Capitol building in an attempt to thwart the certification of Donald Trump’s loss in November’s U.S. presidential election.Brent crude settled up 70 ce...
Tags: Travel, Washington, Saudi Arabia, Donald Trump, Reuters, Reuters Oil, U S Capitol, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


Oil extends gains after surprise #Saudi output cut and U.S. crude draw | Reuters

Oil extends gains after surprise Saudi output cut and U.S. crude draw | Reuters Oil prices extended gains on Wednesday, rising to their highest since late February, after Saudi Arabia announced a big voluntary production cut, and as U.S. crude inventories declined in the latest week.Brent crude was up 88 cents, or 1.7%, to $54.48 a barrel at 11:24 a.m. EST (1524 GMT). Earlier in the session, it hit a high of $54.63 a barrel, a level not seen since Feb. 26, 2020.U.S. West Texas Intermediate (WTI)...
Tags: Travel, Saudi Arabia, Energy Information Administration, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


Oil rises to 11-month high after #SaudiArabia pledges unilateral output cut | Reuters

Oil rises to 11-month high after Saudi Arabia pledges unilateral output cut | Reuters Oil prices rose on Wednesday to their highest since February 2020 after Saudi Arabia agreed to reduce output more than expected in a meeting with allied producers, while industry figures showed U.S. crude stockpiles were down last week.Brent crude rose as much as 0.9% to $54.09 a barrel, the highest since Feb. 26, 2020. It was at $53.82 a barrel at 0757 GMT after jumping 4.9% on Tuesday.U.S. West Texas Intermed...
Tags: Travel, Saudi Arabia, Opec, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


Oil prices rise as U.S. crude stock draw supports but demand hopes dim | Reuters

Oil prices rise as U.S. crude stock draw supports but demand hopes dim | Reuters Oil prices settled higher on Wednesday, supported by a draw in U.S. crude inventories and Britain’s approval of a second coronavirus vaccine but pressured by swelling year-over-year supply.Brent crude futures settled up 25 cents to $51.34 a barrel, off the session high of $51.56 and well lower than the $66 price that started the year.U.S. West Texas Intermediate (WTI) crude settled up 40 cents to trade at $48.40, su...
Tags: Travel, Britain, United States, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


Oil up on hopes of demand recovery, lower U.S. inventories | Reuters

Oil up on hopes of demand recovery, lower U.S. inventories | Reuters Oil gained ground on Wednesday as a U.S. coronavirus fiscal aid package and a decline in crude oil inventories lifted prices.Brent crude futures rose 35 cents, or 0.7%, to $51.44 a barrel by 0803 GMT and U.S. West Texas Intermediate (WTI) crude added 30 cents, or 0.6%, to $48.30 a barrel.“Oil prices have remained supported by a weaker U.S. dollar overnight and have finally found a friend in the API inventory report,” said Steph...
Tags: Travel, Reuters, Reuters Oil, American Petroleum Institute, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, Stephen Innes


Oil rises on hopes U.S. pandemic stimulus will spur fuel demand | Reuters

Oil rises on hopes U.S. pandemic stimulus will spur fuel demand | Reuters Oil rose on Tuesday for the third time in four sessions on expectations for rising fuel demand, as the United States moved towards expanding its pandemic aid payments and with a final Brexit deal set to stabilize trade between Europe and the UK.Brent crude was up 49 cents, or 1%, at $51.35 a barrel by 0756 GMT, while U.S. West Texas Intermediate (WTI) crude futures added 41 cents, or 0.9%, to $48.03 a barrel.“Markets feel ...
Tags: Travel, Europe, UK, Opec, United States, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, AXi, Stephen Innes


Oil drops on surprise U.S. stock build, Trump threat to stimulus bill | Reuters

Oil drops on surprise U.S. stock build, Trump threat to stimulus bill | Reuters Oil prices dropped more than 1% on Wednesday after an industry report showed an unexpected rise in U.S. crude oil inventories, and President Donald Trump rattled markets by threatening not to sign a long-awaited U.S. COVID-19 relief bill.Brent crude futures fell 71 cents, or 1.4%, to $49.37 a barrel at 0646 GMT, while U.S. West Texas Intermediate (WTI) crude futures slid 67 cents, or 1.4%, to $46.35 a barrel. Both co...
Tags: Travel, Britain, Donald Trump, Trump, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


Oil plunges as new coronavirus strain renews demand recovery fears | Reuters

Oil plunges as new coronavirus strain renews demand recovery fears | Reuters Oil prices dropped nearly 2% on Tuesday, adding to steep losses from the previous session, as a new strain of the novel coronavirus in the United Kingdom triggered concerns over fuel demand recovery.The fast-spreading new coronavirus strain has shut down much of Britain, and has prompted several countries to close their borders to British travellers and freight.Brent crude futures were down 88 cents, or 1.7% to $50.03 a...
Tags: Travel, Britain, United Kingdom, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


Oil slips as surge in COVID-19 cases threatens demand | Reuters

Oil slips as surge in COVID-19 cases threatens demand | Reuters Oil prices slid from nine-month highs on Friday, with soaring COVID-19 cases seen as a threat to near-term fuel demand and a strengthening of the U.S. dollar also having a negative impact.U.S. West Texas Intermediate (WTI) crude futures slipped 14 cents or 0.29%, to $48.22 a barrel at 0757 GMT, while Brent crude futures fell 20 cents, or 0.39%, to $51.30.More than 73.65 million people have been reported to be infected by the coronav...
Tags: Travel, Brent, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


Oil prices climb to nine-month high after inventory draw | Reuters

Oil prices climb to nine-month high after inventory draw | Reuters Oil climbed to a nine-month high on Thursday after government data showed a fall in U.S. crude stockpiles last week, while progress towards a U.S. fiscal stimulus deal and strong Asian demand also buoyed prices.The U.S. dollar also set a 2-1/2-year low against major rivals on Thursday. Oil prices generally rise when the dollar falls because crude priced in the greenback becomes cheaper for buyers holding other currencies.Brent cr...
Tags: Travel, New York, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, OANDA, Edward Moya


Oil prices edge higher after U.S. crude stockpile draw | Reuters

Oil prices edge higher after U.S. crude stockpile draw | Reuters Oil prices edged higher on Wednesday, buoyed by U.S. government data that showed crude stockpiles fell last week and by optimism about a coronavirus relief package in the United States.Brent crude futures rose 32 cents to settle at $51.08 a barrel. U.S. West Texas Intermediate (WTI) crude futures rose 20 cents to settle at $47.82 a barrel.U.S. crude inventories fell by 3.1 million barrels in the week to Dec. 11, the Energy Informat...
Tags: Travel, United States, Energy Information Administration, Reuters, Reuters Oil, Mizuho, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, Bob Yawger


Brent oil hovers around $50/bl on vaccine optimism and weaker dollar | Reuters

Brent oil hovers around $50/bl on vaccine optimism and weaker dollar | Reuters Oil prices edged lower on Wednesday after a surprise gain in U.S. crude inventories and tighter coronavirus lockdowns in Europe but a weakening dollar and progress on the rollout of COVID-19 vaccines offered support.Brent crude futures were down 13 cents, or 0.26%, to $50.63 a barrel by 1421 GMT. U.S. West Texas Intermediate (WTI) crude futures fell 15 cents, or 0.31%, to $47.47.“A weak dollar is helping support the p...
Tags: Travel, Europe, BNP Paribas, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, Harry Tchilinguirian


Oil rises, as investors focus on vaccine rollout, brush off recovery concerns | Reuters

Oil rises, as investors focus on vaccine rollout, brush off recovery concerns | Reuters Oil prices rose on Tuesday as investors focused on the rollout of COVID-19 vaccines, looking past tightening lockdowns in Europe and forecasts for a slower-than-expected recovery in fuel demand.Brent crude settled at $50.76 a barrel, rising 47 cents, or 0.9%. U.S. West Texas Intermediate (WTI) crude settled at $47.62 a barrel, gaining 1.3%, or 63 cents.The United States began vaccinating people on Monday as t...
Tags: Travel, Europe, New York, Canada, Britain, United States, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, John Kilduff, COVID


Oil dips on demand worries as COVID-19 lockdowns tighten | Reuters

Oil dips on demand worries as COVID-19 lockdowns tighten | Reuters Oil slipped towards $50 a barrel on Tuesday as tighter lockdowns in Europe and forecasts of a slower demand recovery outweighed relief from the roll-out of coronavirus vaccines.London stepped up pandemic restrictions requiring bars and restaurants to close, Italy is considering more stringent steps over Christmas and Germany is likely to be under lockdown until early 2021.Brent crude fell 2 cents to $50.27 a barrel at 0910 GMT. U...
Tags: Travel, Europe, London, Germany, Italy, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, Tamas Varga


MIDEAST STOCKS-Major markets firm on higher oil prices; #Saudi leads gains | Nasdaq

Most Gulf stock markets strengthened on Wednesday, in tandem with global shares, as progress on the U.S. fiscal stimulus front and positive news about COVID-19 vaccines lifted investor sentiment.U.S. lawmakers continued to negotiate over additional stimulus to help offset the economic impact of the pandemic while pursuing a stopgap government-funding bill.MSCI's gauge of stocks across the globe .MIWD00000PUS rose 0.3% to a record high 635.65.Oil prices, a key catalyst for the Gulf markets, gaine...
Tags: Travel, Washington, Saudi Arabia, Qatar, United Arab Emirates, Dubai, Abu Dhabi, Emirates NBD, MSCI, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, Saudi Basic Industries, Al Rajhi Bank, First Abu Dhabi Bank, DFMGI, Dubai Islamic Bank DISB DU


Oil steady as COVID-19 cases, lockdowns dampen vaccination news | Reuters

Oil steady as COVID-19 cases, lockdowns dampen vaccination news | Reuters Oil prices were little changed on Tuesday as the most populous U.S. state tightened its pandemic lockdown through Christmas and COVID-19 cases surged in the United States and Europe, counteracting optimism that arose over vaccine advancements.Brent crude futures settled at $48.84 a barrel, gaining 5 cents. U.S. West Texas Intermediate (WTI) crude futures settled 16 cents lower at $45.60 a barrel.“There’s been this back-and...
Tags: Travel, Europe, Chicago, Britain, United States, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, Phil Flynn, Price Futures Group


Oil dips as COVID-19 cases, lockdowns outweigh vaccination news | Reuters

Oil dips as COVID-19 cases, lockdowns outweigh vaccination news | Reuters Oil prices edged lower on Tuesday, extending the previous session’s losses after the U.S. state of California tightened its pandemic lockdown through Christmas and COVID-19 cases surged in the United States and Europe. Brent crude fell 3 cents to $48.76 a barrel by 10:34 a.. EST (1534 GMT), while U.S. West Texas Intermediate (WTI) crude futures lost 21 cents to $45.55. Both benchmarks retreated by about 1% on Monday.Oil pr...
Tags: Travel, California, Britain, United States, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Jim Ritterbusch, Europe Brent, Rupert Neil Bumfrey, Ritterbusch


Oil extend losses as gloom grows over soaring COVID-19 cases, lockdowns | Reuters

Oil extend losses as gloom grows over soaring COVID-19 cases, lockdowns | Reuters Oil prices fell on Tuesday, adding to losses from the previous session that came as California tightened its pandemic lockdown through Christmas and coronavirus cases continued to surge in the United States and Europe.Brent crude futures fell 51 cents, or 1.1%, to $48.28 a barrel by 0744 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 45 cents or 1%, to $45.31 a barrel. Both benchmark contracts los...
Tags: Travel, South Korea, Europe, California, Germany, United States, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Europe Brent, Rupert Neil Bumfrey, Lachlan Shaw National Australia Bank


Oil prices post weekly gain ahead of OPEC+ meeting | Reuters

Oil prices post weekly gain ahead of OPEC+ meeting | Reuters Oil prices were mixed on Friday but posted a fourth straight week of gains ahead of an OPEC+ meeting early next week.Brent crude January futures rose 38 cents to settle at $48.18 a barrel, while the more active February contract gained 46 cents to $48.25.U.S. West Texas Intermediate (WTI) crude futures fell 18 cents to settle at $45.53 a barrel.Brent rose 7.2% over the week, while WTI gained 8% for the week. Encouraging news on potenti...
Tags: Travel, Opec, Astrazeneca, Wti, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey



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