TOKYO: Brent oil prices rose on Wednesday to the highest since February after Saudi Arabia agreed to make bigger cuts in output than expected during a meeting with allied producers, while industry data showed U.S. crude stockpiles fell last week.   Brent crude rose as much as 0.6% to $53.94 a barrel, the highest Read more

  SINGAPORE: Oil prices touched multi-month highs on Monday on expectations that OPEC and allied producers may cap output at current levels in February as the coronavirus pandemic keeps worries about first-half demand elevated.   Prices rose in line with broader financial markets with Brent crude futures reaching $53.17 a barrel, the highest since March Read more

  After remaining soft for the better part of 2020 because of the Covid-19 pandemic, crude oil prices have began to inch up and are hovering around $50 per barrel mark.However, experts are of the view that the commodity will be volatile this year and its movement will be determined by the vaccine rollout and Read more

  MOSCOW/LONDON – OPEC sees plenty of downside risks for oil markets in the first half of 2021, its secretary general said on Sunday, a day before meeting allies led by Russia to discuss output levels for February.   “Amid the hopeful signs, the outlook for the first half of 2021 is very mixed and Read more

  Crude oil futures settled flat at Rs 3,527 per barrel on January 1 as participants trimmed their positions as seen by the open interest. Crude oil prices held steady range post inventory data as investors and traders refrained from taking large positions ahead of New Year weekend.   It ended the week with a Read more

Virus-ravaged oil market collapses by a fifth in 2020London: World oil prices slumped by more than a fifth this year as deadly coronavirus savaged the world’s appetite for crude, despite a vaccine-driven upturn at the end of 2020.   Europe’s benchmark contract North Sea crude stood at $51.13 per barrel in mid-afternoon deals on Thursday. Read more

  NEW YORK, Global crude prices edged higher on Thursday but lost more than a fifth of their value in 2020, as lockdowns to combat the novel coronavirus depressed economic activity and sent oil markets reeling.   Still, Brent and U.S. crude benchmarks have more than doubled from April’s nadir as producers cut output to Read more

  Oil futures turned slightly higher Wednesday, as hopes built for progress toward another economic relief package from Washington and data from the U.S. government revealed a weekly decline in crude inventories. The continued rollout of the U.S. COVID-19 vaccine to help restore economic growth also provided support, but recent forecasts for weaker demand limited Read more

  Crude oil futures rise on spot demandNew Delhi: Crude oil prices on Wednesday rose by Rs 22 to Rs 3,512 per barrel as participants widened their positions on firm spot demand. On the Multi Commodity Exchange, crude oil for delivery in December traded higher by Rs 22, or 0.63 per cent, at Rs 3,512 Read more

  Oil prices rose on Monday, pushing Brent back above $50 a barrel, buoyed by hopes that a rollout of coronavirus vaccines will lift global fuel demand while a tanker explosion in Saudi Arabia jangled nerves in the market.   Brent crude futures for February rose 67 cents, or 1.3%, to $50.64 a barrel by Read more

    LONDON: Oil prices eased on Friday, but were set for a sixth week of gains as progress towards novel coronavirus vaccination programmes fed hopes that demand for fuel would rebound next year.   Brent was down 18 cents, or 0.4%, at $50.07 a barrel at 1242 GMT, after rising above $51 a barrel Read more

    SINGAPORE –Oil retreated in London, slipping from a nine-month high and cooling a rally that has added more than 40% to crude prices since early November.Prices erased earlier gains on Friday as the dollar climbed and equities fell. Brent crude had topped $50 on Thursday, though it settled technically overbought, suggesting a pullback Read more

  Due to the uncertainty that COVID-19 was going to have on the global economy in general, and crude oil specifically, West Texas Intermediate (WTI) front-month futures contracts closed at a negative price in April 2020. WTI represents the price for future delivery of a barrel of WTI crude oil. Since June 2020, WTI front-month Read more

    Oil in London climbed above $50 a barrel for the first time since the pandemic ground the global economy to a halt in a remarkable rally that few predicted would happen this soon.   Global benchmark futures surged 2.8% Thursday, reaching a nine-month high. The rebound represents a startling turnaround for a market Read more

  Data from the US Energy Information Administration (EIA) released on Wednesday showed crude oil inventories for the week ending November 13 at 489.5 million barrels, a drop from levels three weeks ago at 492.4 million barrels, but still higher than what was forecast by analysts. Investors need to exercise caution also because stocks in Read more