Wednesday, June 19, 2024
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Oil falls as storm-hit US supply trickles back into market

[ad_1] NEW YORK: Oil prices fell on Friday as energy companies in the US Gulf of Mexico restarted production after back-to-back hurricanes in the region shut output. Brent crude futures fell 33 cents to settle at $75.34 a barrel. US West Texas Intermediate (WTI) crude futures fell 64 cents to settle

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Oil posts biggest week of losses in nine months as Delta variant spreads

[ad_1] NEW YORK: prices closed out their biggest week of losses in more than nine months with another down day on Friday, as investors sold futures in anticipation of weakened fuel demand worldwide due to a surge in COVID-19 cases. The crude market has now posted seven consecutive days of

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Oil edges up in weekly rebound on forecasts for tight supplies

[ad_1] NEW YORK: Oil prices edged higher on Friday and for the week after a strong recovery from Monday's steep slide, underpinned by expectations that supply will remain tight through the year. The price of oil and other riskier assets tumbled at the start of the week on concern over the

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Oil prices fall for a third day as OPEC+ uncertainty lingers

[ad_1] SINGAPORE: Oil prices fell for a third day on Thursday amid anxiety that supply may rise after the collapse this week of talks among major producers, potentially causing the current output agreement to be abandoned. Brent crude oil futures were down 43 cents, or 0.6%, at $73 a barrel by

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Oil rises for second day on signs of strong fuel demand recovery

[ad_1] MELBOURNE: prices rose for a second day on Wednesday on signs of strong fuel demand in Europe, while the prospect of a near-term return of Iranian oil supply faded as the US secretary of state said sanctions against Tehran were unlikely to be lifted. Brent crude futures were up

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Oil mixed on US production fall, possible Saudi output rise

[ad_1] LONDON: Oil prices were mixed on Wednesday, underpinned by a major supply disruption in the southern United States this week where a winter storm hit Texas, but pressured by reports that Saudi Arabia plans to increase output in the coming months. Benchmark Brent crude gained 13 cents, or 0.2%, to

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