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Energy / Oil Prices

Oil Prices On Track For Another Weekly Gain Despite India’s COVID Crisis

May 07, 2021 at 09:05 | Tsvetana Paraskova

Oil prices fell early on Friday, yet they were still headed for a second consecutive weekly gain, for a first such back-to-back weekly gain in nearly two months. Bullish demand…

Hedge Funds Bet On Higher Oil Prices

May 05, 2021 at 17:57 | Tsvetana Paraskova

Money managers intimate a growing confidence that oil prices have room to run higher this year, thanks to expectations of a robust economic rebound and rising global demand…

Saudis Set To Cut Oil Prices To Asia For First Time This Year

May 05, 2021 at 11:03 | Tsvetana Paraskova

Saudi Arabia is likely to reduce the price of its crude oil for Asia in June in what will be the Kingdom’s first price cut this year amid signs of…

Oil Close To Hitting $70 As The U.S. And Europe Reopen

May 05, 2021 at 09:06 | Tsvetana Paraskova

Brent oil prices were less than 50 cents away from hitting $70 per barrel early on Wednesday amid market optimism that reopening the United States and Europe would accelerate the…

Will Oil Hit $80 This Summer?

May 04, 2021 at 17:55 | Julianne Geiger

India, the world’s third-largest oil importer, is the latest coronavirus hotspot. It has recently hit a record-breaking number of new daily coronavirus cases—a statistic that dented oil demand and pressured…

Could Oil Prices Hit $80 Per Barrel?

May 03, 2021 at 15:03 | Yousef Alshammari

Despite the significant rally in oil over the past couple of weeks, demand uncertainty continues to affect prices. The outbreak of the second wave of a new Covid-19 strain in India…

Oil Turns Higher As EU Looks To Welcome Vaccinated Tourists

May 03, 2021 at 11:01 | Tsvetana Paraskova

Oil prices recouped earlier losses and were rising by more than 1 percent on Monday morning, after the European Union unveiled a plan to open its borders to vaccinated tourists,…

Oil Slips On Profit Taking, Stronger U.S. Dollar

Apr 30, 2021 at 10:02 | Tsvetana Paraskova

Oil prices dropped early on Friday as profit-taking and a strengthening U.S. dollar put a stop to this week’s rally that saw prices hitting a six-week high on Thursday. As…

Oil Prices Rally Towards $70 As Demand Outlook Improves

Apr 29, 2021 at 17:01 | Irina Slav

Crude oil prices got a major boost this week thanks to optimistic expectations about demand from OPEC+ and rebalancing fuel inventories in the United States. Brent jumped…

Middle East Oil Economies Desperately Need Higher Oil Prices

Apr 28, 2021 at 14:17 | Irina Slav

Big Oil is reporting strong first-quarter results thanks to higher prices, maybe making some shareholders think twice about the whole energy transition thing. But not everyone is happy. Despite the…

Why Nigerian Oil Prices Are Falling

Apr 28, 2021 at 13:59 | Viktor Katona

Although it is a very rare occurrence to see Nigerian grades trade at levels stipulated by the Nigerian National Petroleum Company (NNPC) every month, the issuance of its official selling…

Cautious Hedging Costs U.S. Drillers Billions

Apr 27, 2021 at 17:53 | Irina Slav

A month ago, ConocoPhillips warned it would book a $600-million impairment to its first-quarter profits from its acquisition of Concho Resources and, as Reuters reported at the time, related…

Oil Prices Climb As OPEC+ Holds Firm On Output Cuts

Apr 27, 2021 at 09:07 | Tsvetana Paraskova

The OPEC+ group will not hold a full ministerial meeting on Wednesday as planned, delegates at the Joint Ministerial Monitoring Committee (JMMC) agreed at their meeting on Tuesday, signaling confidence…

Why The Outlook For Oil Prices Shifted This Week

Apr 23, 2021 at 10:56 | Martin Tillier

A couple of weeks ago, I wrote here that crude was stuck in a range and would probably remain so until something drastic happened to change fundamental conditions and expectations.…

A World Of Difference: One Year After Oil Prices Went Negative

Apr 20, 2021 at 16:00 | Liubov Georges

What a difference a year makes! It might sound like a cliché, but the oil market that was turned on its head last April by a confluence of…

Crude Prices Remain Above $60 As Demand Outlook Improves

Apr 20, 2021 at 12:05 | Yousef Alshammari

Compared to April 2020 “Black April”, seen as one of the worst months for global oil markets, April 2021 tells a very different story. Fundamentals are improving and a newfound…

Oil Prices Rise On Weaker U.S. Dollar

Apr 19, 2021 at 11:00 | Tsvetana Paraskova

Following a 6-percent weekly gain last week, oil prices were slightly up on Monday morning, erasing earlier losses as the U.S. dollar weakened again. As of 10:39 a.m. EDT on…

WoodMac: Oil Prices Could Drop To $10 In 2050

Apr 15, 2021 at 09:55 | Tsvetana Paraskova

Brent Crude oil prices could fall to $10 per barrel by 2050 if the world accelerates the energy transition with decisive action to achieve the Paris Agreement climate…

Will Rising Middle East Oil Prices Harm Global Demand Recovery?

Apr 13, 2021 at 16:05 | Viktor Katona

As we continue to kick the prospect of global economic recovery down the road of 2021, caution remains the buzzword of the oil markets. The less changes month-to-month, the more…

Rising Middle East Production May Trigger A New Oil Price War

Apr 13, 2021 at 09:02 | Irina Slav

Rising Middle Eastern oil production is making the commodity that comes out of this region cheaper compared to Brent-linked grades, which may lead to a price war, Bloomberg has

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