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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


Oil rises, but on track for biggest weekly drop in months | Reuters

Oil rises, but on track for biggest weekly drop in months | Reuters Oil prices rose on Friday but remained on track for their biggest weekly drop since at least May after expectations of more supply put pressure on the market.Brent crude was up 10 cents, or 0.1%, at $73.57 a barrel by 1152 GMT, heading for a 2.6% fall this week, marking its biggest weekly drop since May.U.S. crude for August rose 21 cents, or 0.3%, to $71.86 a barrel, on track for a 3.7% decline, its largest weekly drop since ...
Tags: Travel, Saudi Arabia, Russia, Opec, Uae, Reuters, Reuters Oil, Organization of the Petroleum Exporting Countries, Rupert Neil Bumfrey


Oil prices sink again, as investors look out for more supply | Reuters

Oil prices sink again, as investors look out for more supply | Reuters Oil prices fell by more than $1 a barrel on Thursday on expectations of more crude hitting the market after a compromise deal between leading OPEC producers and a surprisingly poor weekly reading on U.S. fuel demand.Brent crude settled at $73.47 a barrel, dropping $1.29, or 1.7%. U.S. West Texas Intermediate (WTI) crude settled at $71.65 a barrel, down $1.48, or 2.2%.The slide continued Wednesday’s losses, after Reuters rep...
Tags: Travel, Saudi Arabia, Opec, United Arab Emirates, Uae, Reuters, Reuters Oil, Rupert Neil Bumfrey, Phil Flynn


Oil falls 1% as market eyes increased supplies | Reuters

Oil falls 1% as market eyes increased supplies | Reuters Oil prices fell more than 1% on Thursday, extending losses as investors braced for more supplies following a compromise between top OPEC producers and as U.S. fuel stocks rose, raising concerns about demand in the world’s largest consumer. Brent crude futures for September dropped 91 cents, or 1.2%, to $73.85 a barrel by 0640 GMT while U.S. West Texas Intermediate (WTI) crude for August was at $72.11 a barrel, down $1.02, or 1.4%.Both ...
Tags: Travel, Saudi Arabia, Singapore, Opec, Uae, Reuters, Reuters Oil, Avtar Sandu, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, Phillips Futures


Oil rises nearly 2% as investors size up tight market | Reuters

Oil rises nearly 2% as investors size up tight market | Reuters Oil prices gained almost 2% on Tuesday after the International Energy Agency said the market should expect tighter supply for now due to disagreements among major producers over how much additional crude to ship worldwide.The market has been generally stronger as demand has rebounded and the Organization of the Petroleum Exporting Countries and their allies have held millions of barrels of supply from the market. OPEC+, as the gro...
Tags: Travel, Japan, Opec, Paris, IEA, Reuters, Reuters Oil, United States Europe, International Energy Agency, Organization of the Petroleum Exporting Countries, Mizuho, Rupert Neil Bumfrey, Bob Yawger


Oil climbs on expected further draw in U.S. crude inventories | Reuters

Oil climbs on expected further draw in U.S. crude inventories | Reuters Oil prices climbed on Tuesday, reversing most of the previous day's losses, as tight supply and expectations of a further draw in U.S. crude inventories provided support, although fears over the spreading COVID-19 variant capped gains.Brent crude for September rose 36 cents, or 0.5%, to $75.52 a barrel by 0655 GMT, after losing 0.5% on Monday. U.S. West Texas Intermediate crude for August was at $74.45 a barrel, up 35 cent...
Tags: Travel, Opec, Reuters, Reuters Oil, Rupert Neil Bumfrey, Fujitomi Co, Toshitaka Tazawa


Oil Climbs on Expected Further Draw in U.S. Crude Inventories

By Yuka ObayashiTOKYO (Reuters) -Oil prices climbed on Tuesday, reversing some of the previous day's losses, as tight supply and expectations of a...
Tags: Reuters Oil, Yuka ObayashiTOKYO


Oil Rises on Expectations of U.S. Crude Stocks Falling

By Yuka ObayashiTOKYO (Reuters) - Oil rose on Tuesday, recovering from the previous day's drop, as expectations of further declines in U.S. crude...
Tags: Reuters Oil, Yuka


Oil prices slip as economic fears offset tightening crude supplies | Reuters

Oil prices slip as economic fears offset tightening crude supplies | Reuters Oil prices fell on Monday as concerns about slowing global growth outweighed the prospect of tightening supply after talks among key crude producers to raise output in the coming months stalled.Brent crude for September fell 45 cents, or 0.6%, to $75.10 a barrel by 12:08 p.m. EDT (1605 GMT). U.S. West Texas Intermediate crude for August was at $74.07 a barrel, down 49 cents, or 0.7%.Both benchmarks fell about 1% last ...
Tags: Travel, Reuters, Reuters Oil, Rupert Neil Bumfrey, Rystad Energy, Louise Dickson


Oil prices fall as economic worries offset tightening supplies | Reuters

Oil prices fall as economic worries offset tightening supplies | Reuters Oil prices slipped on Monday as concerns about slowing global growth outweighed the prospect of tightening supply after talks among key producers to raise output in coming months stalled.Brent crude for September fell 86 cents, or 1.1%, to $74.69 a barrel by 1240 GMT. U.S. West Texas Intermediate crude for August was at $73.71 a barrel, down 85 cents, or 1.1%.Both benchmarks fell about 1% last week but remain close to hig...
Tags: Travel, Reuters, Reuters Oil, Rupert Neil Bumfrey, Rystad Energy, Louise Dickson


Oil prices rise over 2% as U.S. inventories decline | Reuters

Oil prices rise over 2% as U.S. inventories decline | Reuters Oil prices rose for a second day on Friday as the market reacted to falling U.S. inventories, and signs of strong Asian demand from both China and India added support.Brent crude oil futures were up $1.43, 1.93%, at $75.55. U.S. West Texas Intermediate futures were up $1.62, or 2.2%, at $74.56."The market is coming to grips with the historic drop in U.S. oil inventories, and dimmed prospects of Iranian oil returning to the market," ...
Tags: Travel, China, Russia, India, Opec, Chicago, Atlantic, EIA, Reuters, Reuters Oil, U S Energy Information Administration, Rupert Neil Bumfrey, Stephen Brennock, Phil Flynn, Price Futures Group


Oil climbs on U.S. inventories draw; OPEC+ impasse caps gains | Reuters

Oil climbs on U.S. inventories draw; OPEC+ impasse caps gains | Reuters Oil prices rose for a second day on Friday as data showed a draw in U.S. inventories, but were headed for a weekly loss amid uncertainty about global supplies fuelled by an OPEC+ impasse.Brent crude oil futures were up 27 cents, or 0.4%, at $74.39 a barrel by 0644 GMT. U.S. West Texas Intermediate futures were up 39 cents, or 0.5%, at $73.33 a barrel.Prices on both sides of the Atlantic were on track for a weekly loss of m...
Tags: Travel, Russia, Opec, Atlantic, Reuters, Reuters Oil, Organization of the Petroleum Exporting Countries, Rupert Neil Bumfrey, U S West Texas Intermediate, Hiroyuki Kikukawa, Nissan Securities


Oil prices extend losses as OPEC+ uncertainty lingers | Reuters

Oil prices extend losses as OPEC+ uncertainty lingers | Reuters Oil prices fell for a third day on Thursday amid uncertainty over supply after the collapse this week of talks among major producers which could potentially cause the current output agreement to be abandoned.Brent crude oil futures slipped by 23 cents, or 0.3%, to $73.20 a barrel by 0644GMT, while U.S. West Texas Intermediate futures were down 33 cents, or 0.5%, at $71.87 a barrel.Brent prices have fallen about 5% since Monday's c...
Tags: Travel, Saudi Arabia, Russia, Opec, United Arab Emirates, Reuters, Reuters Oil, Organization of the Petroleum Exporting Countries, Rupert Neil Bumfrey, OANDA, Edward Moya


Oil falls in volatile trade as investors seek OPEC clarity | Reuters

Oil falls in volatile trade as investors seek OPEC clarity | Reuters Oil prices fell more than $1 a barrel on Wednesday in another seesaw trading session, as investors feared this week's collapse in OPEC+ talks could mean more supply, not less, is on the way.Crude markets have been volatile over the last two days following the breakdown of discussions between major oil producers Saudi Arabia and United Arab Emirates, signaling investors are unclear on what the OPEC+ standoff means for worldwid...
Tags: Travel, Saudi Arabia, Russia, Opec, United Arab Emirates, Reuters, Reuters Oil, Petroleum Exporting Countries, Rupert Neil Bumfrey, U S West Texas Intermediate


Oil rises as tighter market eyed after OPEC+ cancels meeting | Reuters

Oil rises as tighter market eyed after OPEC+ cancels meeting | Reuters Oil rose towards $76 a barrel on Wednesday, rebounding from steep losses a day earlier with support coming from a tight market in the short term after OPEC+ talks collapsed this week without a deal to boost supply.Underlining tightening conditions, U.S. crude inventories are expected to fall this week. The failure of OPEC+ talks on Monday means no output rise has been agreed, while U.S. oil shale firms are hesitating to pum...
Tags: Travel, Opec, Reuters, Reuters Oil, Rupert Neil Bumfrey, Louise Dickson, Rystad Energy U S


Oil steadies after tumble as market awaits OPEC+ clarity | Reuters

Oil steadies after tumble as market awaits OPEC+ clarity | Reuters Oil prices rose on Wednesday, recovering from a steep drop in the previous session, after the cancellation of talks among OPEC+ producers that raised the prospect the world's major crude exporters will turn on the taps to gain market share.Brent crude was up 74cents, or 1%, at $75.27 a barrel by 0715 GMT, after slumping more than 3% on Tuesday. U.S. oil was up 88 cents, or 1.2%, at $74.25 a barrel, having declined by more than ...
Tags: Travel, Saudi Arabia, Russia, Opec, Reuters, Reuters Oil, United Arab Emirates UAE, Petroleum Exporting Countries OPEC, Rupert Neil Bumfrey


Oil drops sharply after OPEC cancels meeting | Reuters

Oil drops sharply after OPEC cancels meeting | Reuters Oil prices tumbled on Tuesday in a volatile session after OPEC producers canceled a meeting when major players were unable to come to an agreement to increase supply. Brent crude settled down $2.63 a barrel, or 3.4%, to $74.53, after hitting a session peak of $77.84, its highest since October 2018.U.S. West Texas Intermediate (WTI) crude futures settled down $1.79, or 2.4%, to $73.37 after touching $76.98, highest since November 2014.On ...
Tags: Travel, Saudi Arabia, Opec, Reuters, Reuters Oil, Petroleum Exporting Countries OPEC, Rupert Neil Bumfrey, United Arab Emirates Initially


Oil slips after reaching multi-year highs on OPEC+ dispute | Reuters

Oil slips after reaching multi-year highs on OPEC+ dispute | Reuters Oil prices slipped on Tuesday, driven by profit-taking in response to multi-year highs reached after OPEC+ producers clashed over plans to raise supply to meet rising global demand.Brent crude was down $1.30 a barrel, or 1.7%, at $75.86 by 1354 GMT, having hit a session peak of $77.84 for its highest since October 2018.U.S. West Texas Intermediate (WTI) crude futures traded down 47 cents, or 0.6%, at $74.69 after touching $76...
Tags: Travel, Russia, Opec, Reuters, Reuters Oil, Rupert Neil Bumfrey