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Energy / Oil Prices

Oil Prices Flat As Mexico Looks To Restore Production

Aug 25, 2021 at 08:39 | Irina Slav

Mexico's Pemex has restored about 17 percent of the more than 400,000 bpd in oil production it lost due to a fire that erupted on an offshore platform…

Why Pfizer’s FDA Approval Has Been A Boon For Oil Prices

Aug 24, 2021 at 11:09 | Irina Slav

The recent resurgence in Covid-19 infections in many parts of the world led not just to a slump in oil prices but growing pessimism about the prospects of…

Brent Climbs Back Above $70 On Major Production Outage

Aug 24, 2021 at 09:00 | Tsvetana Paraskova

Oil prices extended Monday’s 5-percent gain early into Tuesday, as concerns about global demand started to ease while a major outage in Mexico supported prices on the supply side. As…

Oil Set For Longest Losing Streak Since 2019

Aug 20, 2021 at 08:08 | Tsvetana Paraskova

Oil prices fell on Friday morning for the seventh day in a row, which would be the longest run of daily declines since 2019, amid growing concerns about global oil…

‘Skimming Stones’ Pattern Shows Wall Street Is Wrong About Oil

Aug 19, 2021 at 10:55 | Alex Kimani

About a week ago, President Joe Biden made a highly unusual move by reaching out to OPEC, urging the cartel to…

Oil Sinks On Signals Fed May Soon End Stimulus

Aug 19, 2021 at 06:36 | Irina Slav

West Texas Intermediate sank to $63 per barrel after news reports suggested the Federal Reserve is about to start winding down its bond-buying program that kept the economy going…

Oil Prices Unlikely To Collapse Any Time Soon

Aug 18, 2021 at 10:03 | Ag Metal Miner

You wouldn’t believe the oil price had been quietly falling since early July when you went to fill up your tank this summer. Gasoline demand is…

Oil Prices Set For Longest Losing Streak Since March

Aug 17, 2021 at 08:26 | Tsvetana Paraskova

After tentatively rising in Asian trade, oil prices reversed course and fell on Tuesday morning, poised for a fourth consecutive day of losses, which would be the longest losing streak…

The Main Reason Oil Prices Won't Go Above $80 Per Barrel

Aug 16, 2021 at 11:13 | Simon Watkins

As highlighted repeatedly by OilPrice.com there are two extremely powerful reasons why the oil price has been effectively capped around US$75-80 per barrel of…

Oil Sinks As Demand Outlook Worsens

Aug 16, 2021 at 08:40 | Tsvetana Paraskova

Oil prices dropped by more than 2 percent early on Monday, as weak data about China's economy and ultra-low U.S. consumer confidence weighed on the immediate global oil demand outlook.…

Oil Dips As Demand Concerns Grow

Aug 13, 2021 at 10:06 | Tsvetana Paraskova

Oil prices fell for a second consecutive day early on Friday, hit by weakening demand estimates and China closing a key terminal at the third-busiest port in the world.  …

Oil Prices Rebound From Three-Week Lows

Aug 10, 2021 at 08:41 | Tsvetana Paraskova

After hitting a three-week low on Monday, oil prices rose early on Tuesday as the market hopes that still resilient oil demand in the West would offset weakness in its…

Aramco Posts Near 300% Increase In Profits On Surging Demand

Aug 09, 2021 at 10:00 | Irina Slav

Saudi Aramco reported a 288-percent increase in net profits for the second quarter of the year, to $25.5 billion, thanks to the rebound in oil prices spurred by growing…

Saudi Arabia’s Latest Oil Price Hike For Asia May Backfire

Aug 06, 2021 at 10:02 | Irina Slav

Saudi Arabia raised its September official selling prices for crude oil by between $0.20 and $0.30 per barrel for Asian buyers to a four-month high. This time, however,  their move…

Oil Prices On Track For Worst Weekly Loss Since March

Aug 06, 2021 at 08:58 | Tsvetana Paraskova

Oil prices rose early on Friday but were still headed for their worst weekly performance since March, depressed by rising COVID cases in many countries and renewed travel restrictions in…

Oil Prices And Energy Stocks Rebound

Aug 05, 2021 at 11:06 | Tsvetana Paraskova

Oil rebounded on Thursday morning, pushing up U.S. energy stocks higher, after three days of declining crude prices over concerns about global oil demand with rising COVID cases in major…

Exxon’s Falling Production Is Highly Bullish For Oil Prices

Aug 04, 2021 at 12:27 | Alex Kimani

Last week, ExxonMobil (NYSE:XOM) reported Q 2 2021 earnings in one of Big Oil's most anticipated scorecards this earnings season. The United States' largest oil and…

Saudi Aramco Hikes Oil Prices To Asia For Second Consecutive Month

Aug 04, 2021 at 10:59 | Tsvetana Paraskova

The world’s largest oil exporter, Saudi Arabia, raised on Wednesday its official selling prices for crude oil loading for Asia in September in a widely expected move tracking stronger Middle…

WTI Falls Below $70 On Global Rise In COVID Cases

Aug 03, 2021 at 09:25 | Tsvetana Paraskova

The U.S. benchmark, WTI Crude, slumped below $70 per barrel early on Tuesday in the second day of sell-offs triggered by surging COVID cases worldwide, including in the biggest economies,…

Could Oil Still Hit $80?

Aug 03, 2021 at 08:59 | Irina Slav

Crude oil markets have been jittery lately as additional OPEC+ output counters expectations of continued strong demand and coincides with concerns about the resurgence of Covid-19 in key markets. Yet…

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