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Oil prices ease but remain near two-month highs on tight supplies | Reuters

Oil prices ease but remain near two-month highs on tight supplies | Reuters Oil prices eased but remained well above $75 a barrel on Thursday, supported by growing fuel demand and a draw in U.S. crude inventories as production remained hampered in the Gulf of Mexico after two hurricanes.Brent crude was down 24 cents, or 0.3%, to $75.95 a barrel at 1035 GMT. U.S. West Texas Intermediate (WTI) crude fell 28 cents, or 0.4%, to $71.95 a barrel.Earlier in the session, Brent rose to $76.53 a barrel,...
Tags: Travel, Gulf of Mexico, Reuters, Reuters Oil, U S Energy Information Administration, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


Oil prices rise on tight supply, renewed risk appetite | Reuters

Oil prices rise on tight supply, renewed risk appetite | Reuters Oil prices extended gains on Thursday, riding higher on growing fuel demand and a bigger-than-expected draw in U.S. crude inventories as production remains hampered in the Gulf of Mexico after two hurricanes.Brent crude rose 9 cents, or 0.1%, to $76.28 a barrel at 0856 GMT. U.S. West Texas Intermediate (WTI) crude was up 4 cents, or 0.1%, to $72.27 a barrel.Both contracts jumped 2.5% on Wednesday after data from the U.S. Energy I...
Tags: Travel, Opec, Gulf of Mexico, Reuters, U S Energy Information Administration, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, OANDA, Jeffrey Halley


Oil falls 2% on risk aversion, dollar strength | Reuters

Oil falls 2% on risk aversion, dollar strength | Reuters Oil prices fell 2% on Monday as investors grew more risk averse, which hurt stock markets and boosted the U.S. dollar, making oil more expensive for holders of other currenciesBrent crude fell $1.42, or 1.9%, to settle at $73.92 a barrel after sinking to a session low of $73.52. U.S. West Texas Intermediate (WTI) declined $1.68, or 2.3%, to end at $70.29 after falling to as low as $69.86.The dollar, seen as a safe haven, rose as worries ...
Tags: Travel, Federal Reserve, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Evergrande, Rupert Neil Bumfrey, Rystad Energy, Nishant Bhushan


Oil falls below $75 on risk-averse mood, dollar's gain | Reuters

Oil falls below $75 on risk-averse mood, dollar's gain | Reuters Oil fell below $75 a barrel on Monday as rising risk aversion weighed on stock markets and boosted the U.S. dollar, although crude pared earlier losses on signs that some U.S. Gulf output will stay offline for months due to storm damage.The dollar, seen as a safe haven, rose as worries about Chinese property developer Evergrande's solvency spooked equity markets and investors braced for the Federal Reserve to take another step to...
Tags: Travel, Federal Reserve, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Evergrande, Rupert Neil Bumfrey, U S Gulf, Tamas Varga


Oil falls to $74 on risk-averse mood, U.S. Gulf output | Reuters

Oil falls to $74 on risk-averse mood, U.S. Gulf output | Reuters Oil dropped more than $1 a barrel to around $74 on Monday as rising risk aversion weighed on stock markets and boosted the U.S. dollar, while more U.S. Gulf oil output came back online in the wake of two hurricanes.The U.S. dollar, seen as a safe haven, rose as worries about Chinese property developer Evergrande's solvency spooked equity markets and as investors braced for the Federal Reserve to take another step towards tapering...
Tags: Travel, Federal Reserve, Gulf, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Evergrande, Rupert Neil Bumfrey, Tamas Varga


Oil down on stronger greenback, rising U.S. rig count | Reuters

Oil down on stronger greenback, rising U.S. rig count | Reuters Oil prices dropped on Monday, extending last week's losses after the U.S. dollar jumped to a three-week high and the U.S. rig count rose, although nearly a quarter of U.S. Gulf of Mexico output stayed offline in the wake of two hurricanes.Brent crude futures fell 61 cents, or 0.8%, to $74.73 a barrel at 0650 GMT after losing 33 cents on Friday.U.S. West Texas Intermediate (WTI) crude futures fell 66 cents, or 0.9%, to $71.31 a bar...
Tags: Travel, Reuters, Reuters Oil, U S Federal Reserve, ING Bank, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, U S Gulf of Mexico


Oil falls as storm-hit U.S. supply trickles back into market | Reuters

Oil falls as storm-hit U.S. supply trickles back into market | Reuters Oil prices fell on Friday as energy companies in the U.S. Gulf of Mexico restarted production after back-to-back hurricanes in the region shut output.Both Brent and U.S. crude benchmarks were on track for weekly gains of 3.2% and 3.3%, respectively, owing to the recent supply tightness due to the hurricane outages.Brent crude futures fell 42 cents to $75.25 a barrel by 12:48 p.m. EDT (1648 GMT). U.S. West Texas Intermediate...
Tags: Travel, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, U S Gulf of Mexico


Oil holds above $75 as storm-hit U.S. supply returns slowly | Reuters

Oil holds above $75 as storm-hit U.S. supply returns slowly | Reuters Brent oil futures dipped on Friday but held above $75 a barrel, remaining on track for weekly gains of more than 3% thanks to the slow recovery in output after two hurricanes in the U.S. Gulf of Mexico.Brent crude futures fell 27 cents, or 0.36%, to $75.40 a barrel by 0838 GMT, erasing Thursday's 21 cent gain.U.S. West Texas Intermediate (WTI) crude futures were down 39 cents, or 0.54%, at $72.22 after settling unchanged in ...
Tags: Travel, Reuters, Reuters Brent, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, OANDA, Edward Moya, U S Gulf of Mexico Brent


Oil prices climb after drawdown in U.S. stocks | Reuters

Oil prices climb after drawdown in U.S. stocks | Reuters Oil prices climbed $1 on Wednesday after industry data showed a larger-than-expected drawdown in U.S. crude inventories and on expectations demand will rise as vaccination roll-outs widen.Brent oil rose $1.08, or 1.5%, to $74.68 a barrel by 1226 GMT, while U.S. West Texas Intermediate (WTI) crude climbed $1.12, or 1.6%, to $71.58 a barrel.U.S. crude oil, gasoline and distillate stocks fell last week, two market sources said, citing Ameri...
Tags: Travel, Reuters, Reuters Oil, American Petroleum Institute, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


Oil prices climb after drawdown in stocks, positive demand outlook | Reuters

Oil prices climb after drawdown in stocks, positive demand outlook | Reuters Oil prices climbed on Wednesday after industry data showed a larger than expected drawdown in crude oil stocks in the United States, the world's largest oil consumer, and on expectations that demand will recover as vaccine roll-outs widen.But a fall in China's crude oil throughput in August with daily refinery runs hitting the lowest since last May, and overall factory output faltering, capped oil price gains. read mo...
Tags: Travel, China, United States, Reuters, Reuters Oil, American Petroleum Institute, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


Oil at one-week high as U.S. supply concerns dominate | Reuters

Oil at one-week high as U.S. supply concerns dominate | Reuters Oil rose more than 1% on Monday, supported by concerns over shut output in the United States because of damage from Hurricane Ida, with analysts expecting prices to remain rangebound in a stable market over the coming months.Brent crude rose 90 cents, or 1.2%, to $73.82 a barrel by 1049 GMT and U.S. West Texas Intermediate (WTI) crude was up 99 cents, or 1.4%, at $70.71.Brent has held between $70 and $74 a barrel over the past thr...
Tags: Travel, United States, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, Stephen Brennock


Oil rises to one-week high as U.S. supply concerns dominate | Reuters

Oil rises to one-week high as U.S. supply concerns dominate | Reuters Oil prices rose for a second session on Monday as concerns over shut output in the United States, the world's biggest producer, following damage from Hurricane Ida supported the market, along with expectations for higher demand.Brent crude rose 67 cents, or 0.9% to $73.59 a barrel, and U.S. West Texas Intermediate (WTI) crude also added 66 cents, or 1%, to $70.38 at 0633 GMT. Both markets were at their highest since Sept. 3 ...
Tags: Travel, Nigeria, Opec, United States, Louisiana, Gulf of Mexico, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


Oil rallies towards $73 on tight U.S. supplies, Biden-Xi call | Reuters

Oil rallies towards $73 on tight U.S. supplies, Biden-Xi call | Reuters Oil rose towards $73 a barrel on Friday, supported by growing signs of supply tightness in the United States as a result of Hurricane Ida and as U.S.-China trade hopes gave riskier assets a boost.About three-quarters of the U.S. Gulf's offshore oil production, or about 1.4 million barrels per day, has remained halted since late August. read moreFigures this week showed U.S. crude inventories fell to the lowest since Septem...
Tags: Travel, China, United States, Biden, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, Stephen Brennock, PVM Brent, Biden Xi


Oil dives late, hit by China supply plan, U.S. bond auction | Reuters

Oil dives late, hit by China supply plan, U.S. bond auction | Reuters Oil prices fell to a two-week low on Thursday as China rolled out a plan to release state oil reserves, the U.S. weekly crude draw was smaller than expected and U.S. Treasuries rallied as investors sought safer assets.In volatile trade, Brent futures fell $1.15, or 1.6%, to settle at $71.45 a barrel. U.S. West Texas Intermediate (WTI) crude fell $1.16, or 1.7%, to $68.14. That was the lowest settlement for both since Aug. 26...
Tags: Travel, New York, China, Reuters, Reuters Oil, U S Treasuries, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, John Kilduff, Again Capital LLC


Oil settles up 1% on low U.S. output after hurricane | Reuters

Oil settles up 1% on low U.S. output after hurricane | Reuters Oil prices jumped on Wednesday and settled up more than 1% as U.S. Gulf of Mexico producers made slow progress in restoring output after Hurricane Ida.Brent settled up91 cents, or 1.3%, at $72.60 and U.S. West Texas Intermediate (WTI) crude settled up 95 cents, or 1.4%, to $69.30 a barrel.Producers in the Gulf are still struggling to restart operations nine days after Ida swept through the region with powerful winds and drenching r...
Tags: Travel, Gulf of Mexico, Gulf, Reuters, Reuters Oil, Ida, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


Oil climbs on slow U.S. supply return after Hurricane Ida | Reuters

Oil climbs on slow U.S. supply return after Hurricane Ida | Reuters Oil prices rose on Wednesday as U.S. Gulf of Mexico producers made slow progress in rebuilding output, although gains were capped by a stronger dollar and concerns about the impact on demand of rising coronavirus infections.Brent was up 60 cents, or 0.8%, at $72.29 a barrel, at 1002 GMT, and U.S. West Texas Intermediate (WTI) crude rose 70 cents, or 1%, to $69.05 a barrel."Oil prices are continuing to find support from the ong...
Tags: Travel, Gulf of Mexico, Gulf, Reuters, Reuters Oil, Commerzbank, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, Carsten Fritsch, Hurricane Ida


Oil rises on demand outlook, Gulf outages | Reuters

Oil rises on demand outlook, Gulf outages | Reuters Oil prices rose on Friday as a rebound in global demand was widely expected and a slow recovery for the U.S. Gulf Coast export and refining hub from the hurricane earlier this week looked set to deplete stocks further.Brent crude futures were up 39 cents, or 0.5%, to $73.42 a barrel at 1231 GMT, while U.S. West Texas Intermediate (WTI) crude futures were up 21 cents or 0.3% at $70.20 a barrel. Both benchmark oil contracts were largely steady ...
Tags: Travel, Louisiana, Gulf of Mexico, Reuters, Reuters Oil, U S West Texas Intermediate WTI, U S Gulf Coast, Rupert Neil Bumfrey, Vandana Hari, Vanda Insights


Oil prices mixed ahead of U.S. jobs report, more gains eyed | Reuters

Oil prices mixed ahead of U.S. jobs report, more gains eyed | Reuters Oil prices were mixed on Friday after a strong rise in the previous session on a weaker dollar and a fall in U.S. crude stocks and were set for modest weekly gains ahead of a highly anticipated U.S. monthly jobs report.Brent crude futures were up 13 cents, or 0.2%, to $73.16 a barrel at 0619 GMT, while U.S. West Texas Intermediate (WTI) crude futures were down 4 cents, or 0.1%, at $69.95 a barrel.Both benchmark oil contracts...
Tags: Travel, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, Stephen Innes


Oil dips; OPEC+ sticks to gradual output hikes | Reuters

Oil dips; OPEC+ sticks to gradual output hikes | Reuters Oil prices edged lower on Wednesday after OPEC and its allies agreed to stick to their existing policy of gradual oil output increases.Brent crude fell 18 cents to $71.45 a barrel by 1:09 p.m. EDT (1709 GMT). U.S. West Texas Intermediate (WTI) crude fell 6 cents to $68.44 a barrel.The Organization of the Petroleum Exporting Countries and allies led by Russia, a group known as OPEC+, agreed on Wednesday to stick to a policy from July of p...
Tags: Travel, Russia, Opec, Reuters, Reuters Oil, Petroleum Exporting Countries, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


Oil price firms before OPEC+ policy meeting | Reuters

Oil price firms before OPEC+ policy meeting | Reuters Oil prices rose on Wednesday before an OPEC+ meeting at which the producer club is expected to stick to a plan to add 400,000 barrels per day (bpd) each month to the end of December.The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, collectively known as OPEC+, are set to meet at 1500 GMT. OPEC+ has raised its forecast for oil demand next year, sources within the group told Reuters, in a move that migh...
Tags: Travel, Russia, Opec, Joe Biden, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Petroleum Exporting Countries OPEC, Rupert Neil Bumfrey


Oil falls as U.S. refineries shut; Washington pushes OPEC to pump more | Reuters

Oil falls as U.S. refineries shut; Washington pushes OPEC to pump more | Reuters Oil fell on Tuesday on expectations for demand to fall after Hurricane Ida shuttered refinerson the U.S. Gulf Coast, and as producing nations in OPEC+ geared up to meet on Wednesday with the United States callingfor suppliers to pump more crude.Brent crude futures for October, due to expire on Tuesday, fell 39 cents, or 0.5%, to $73.02 a barrel by 11:08 a.m. EDT (1508 GMT).U.S. West Texas Intermediate (WTI) crude ...
Tags: Travel, Washington, Opec, United States, Louisiana, Gulf of Mexico, Reuters, Reuters Oil, U S West Texas Intermediate WTI, U S Gulf Coast, Rupert Neil Bumfrey, Hurricane Ida


Oil rises as storm approaches Gulf of Mexico production hub | Reuters

Oil rises as storm approaches Gulf of Mexico production hub | Reuters Oil prices rose on Friday, on track to post big gains for the week, on worries about supply disruptions as energy companies began shutting production in the Gulf of Mexico ahead of a possible hurricane forecast to hit on the weekend.Brent crude futures rose 72 cents, or 1%, to $71.79 a barrel at 0855 GMT. U.S. West Texas Intermediate (WTI) crude futures climbed 80 cents, or 1.2%, to $68.22 a barrel.For the week, Brent is on ...
Tags: Travel, Opec, Gulf of Mexico, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, OANDA, Edward Moya


Oil edge lower after two-day rally on supply issues | Reuters

Oil edge lower after two-day rally on supply issues | Reuters Oil prices nudged lower on Wednesday, taking a breather after a strong rally this week spurred by the loss of a quarter of Mexico's production and signs that China, the world's biggest importer, has curbed a recent coronavirus outbreak.Brent crude futures dropped 9 cents, or 0.1%, to $70.96 a barrel by 0639 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 19 cents, or 0.3%, to $67.35.Both benchmark contracts rose by ...
Tags: Travel, Mexico, China, Reuters, Reuters Oil, American Petroleum Institute, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, Vandana Hari


Oil extends gains on brighter demand outlook, Mexico outages | Reuters

Oil extends gains on brighter demand outlook, Mexico outages | Reuters Oil prices rose on Tuesday, extending sharp gains on a bullish demand outlook as Mexico suffered a big production outage and U.S. regulators issued their first full approval for a COVID-19 vaccine.Brent crude oil futures were up 83 cents, or 1.2%, at $69.58 a barrel by 0941 GMT, while U.S. West Texas Intermediate (WTI) gained 68 cents, or 1%, to $66.32.Both benchmarks jumped more than 5% on Monday, helped by a weaker dollar...
Tags: Travel, Mexico, Julius Baer, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, Norbert Rücker


Oil rises as full U.S. clearance for COVID-19 vaccine stokes demand hopes | Reuters

Oil rises as full U.S. clearance for COVID-19 vaccine stokes demand hopes | Reuters Oil prices rose on Tuesday after the U.S. drug regulator granted full approval to the Pfizer Inc/BioNTech SE COVID-19 vaccine, stoking investor hopes that higher fuel demand would follow a potential rise in U.S. coronavirus vaccination rates.Brent crude oil futures were up 46 cents, or 0.7%, to $69.21 a barrel by 0648 GMT, while U.S. West Texas Intermediate (WTI) had gained 34 cents, or 0.5%, to $65.98.Both ben...
Tags: Travel, Reuters, Reuters Oil, U S Food and Drug Administration FDA, Pfizer Inc, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


Oil heads for 7% weekly drop as Delta variant spreads | Reuters

Oil heads for 7% weekly drop as Delta variant spreads | Reuters Oil prices were down for a seventh straight session on Friday near three-month lows and heading for a weekly loss of over 7% as new lockdowns in countries facing surging cases of the COVID-19 Delta variant dampened the outlook for fuel demand.Broader investor risk aversion also weighed on oil with the U.S. dollar jumping to a nine-month high on signs the U.S. Federal Reserve is considering reducing stimulus this year. read more (....
Tags: Travel, Singapore, Delta, ANZ, Reuters, Reuters Oil, U S Federal Reserve, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, Margaret Yang


Crude futures settle higher and add gains on U.S. policy | Reuters

Crude futures settle higher and add gains on U.S. policy | Reuters Oil futures settled higher on Wednesday, changing course after the Biden administration said it would not call on U.S. producers to increase crude output, and that efforts to increase OPEC production were a longer-range plan.The market was also bolstered by a government report showing U.S. crude supplies fell last week, shifting the spotlight away from production by the Organization of the Petroleum Exporting Countries.Brent cr...
Tags: Travel, White House, Opec, Biden, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


Oil slides to 3-week low on China's virus curbs, strong dollar | Reuters

Oil slides to 3-week low on China's virus curbs, strong dollar | Reuters Oil prices fell over 2% to a three-week low on Monday, extending last week's steep losses on the back of a firmer U.S. dollar and concerns that new coronavirus-related restrictions in Asia, especially China, could slow a global recovery in fuel demand.A United Nations panel's dire warning on climate change added to the gloomy mood after fires in Greece razed homes and forests and parts of Europe suffered deadly floods las...
Tags: Travel, Asia, Europe, Greece, China, United States, United Nations, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, OANDA, Edward Moya


Oil slides near 3% on China virus curbs and strong dollar | Reuters

Oil slides near 3% on China virus curbs and strong dollar | Reuters Oil prices fell about 3% on Monday, extending last week's steep losses on the back of a rising U.S. dollar and concerns that new coronavirus-related restrictions in Asia, especially China, could slow a global recovery in fuel demand.A United Nations panel's dire warning on climate change added to the gloomy mood after fires in Greece have razed homes and forests and parts of Europe suffered deadly floods last month.Brent futur...
Tags: Travel, Asia, Europe, Greece, China, United Nations, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey


Oil slides 4% on China virus curbs and strong dollar | Reuters

Oil slides 4% on China virus curbs and strong dollar | Reuters Oil prices fell by 4% on Monday, extending last week's steep losses on the back of a rising U.S. dollar and concerns that new coronavirus-related restrictions in Asia, especially China, could slow a global recovery in fuel demand.A United Nations panel's dire warning on climate change also added to the gloomy mood after fires in Greece have razed homes and forests and parts of Europe suffered deadly floods last month. read moreBren...
Tags: Travel, Asia, Europe, Greece, China, United Nations, Gordon Ramsay, Reuters, Rbc, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey



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