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Showing posts with the label Oil Price Report .

Oil Price Report on Wednesday, February 2, 2022 (Morning Edition):

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 Source: thecorrespondent.pk Global oil prices jump to seven-year high Agencies 3-4 minutes Oil prices climbed on Wednesday toward last week’s seven-year highs as a draw in US crude stocks confirmed strong demand and a lack of supply, but investors remained cautious ahead of an OPEC+ meeting later in the day. Brent crude rose 17 cents, or 0.2%, to $89.33 a barrel by 0339 GMT, after easing 10 cents on Tuesday. US West Texas Intermediate crude was up 16 cents, or 0.2%, at $88.36 a barrel, having gained 5 cents the previous day. Tight global supplies and geopolitical tensions in Eastern Europe and the Middle East have boosted oil prices by about 15% so far this year. On Friday, crude benchmarks hit their highest prices since October 2014, with Brent touching $91.70 and US crude hitting $88.84. “A drop in US crude inventories provided support, though an increase of gasoline stocks partially offset bullish sentime

Energy | Oil | Oil Price Report on Friday 8, November 2019: Oil ends the week higher, shrugging off inventory build and trade uncertainty

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3-4 minutos - Source: CNBC A photo taken August 19, 2013 shows a worker checking oil tanks at an oil well near Tioga, North Dakota. Karen Bleier | AFP | Getty Images Oil prices pared losses on Friday, ultimately finishing the session higher while also posting a gain for the week. Earlier in the session prices fell more than 1% following comments from U.S. President Donald Trump that he has not agreed to roll back tariffs on China. Brent crude , the global benchmark, gained 26 cents to settle at $62.56 a barrel, after gaining 0.9% in the previous session. U.S. West Texas Intermediate (WTI) crude gained 9 cents, or 0.2%, to settle at a 6-week high of $57.24. Prices pared losses in midday trade, after Brent reached a session low of $60.66 a barrel and WTI sank to $55.76 a barrel. “Given the volatility around the U.S.-China trade saga, it’s hard to be short over the weekend,” said John Kilduff, a partner at Again Capital LLC. “The turn of a