Oil prices climb after OPEC+ keeps output cut targets, China eases COVID curbs

Oil prices climb after OPEC+ keeps output cut targets, China eases COVID curbs

Brent gained 0.8% at 0430 GMT, WTI up 0.9% OPEC+ sticks to plans to cut production by 2 mln bpd More Chinese cities relax COVID-19 restrictions MELBOURNE, Dec 5 (Reuters) – Oil prices rose as much as 2% on Monday after OPEC+ nations held their output targets steady ahead of a European Union ban and … Read more

Oil prices erase 2022 gains as China’s protests spark demand worries

Oil prices erase 2022 gains as China’s protests spark demand worries

WTI hits lowest since Dec 2021, Brent at lowest since Jan 2022 Clashes in Shanghai as COVID protests flare across China Investors focus on next OPEC+ meeting on Dec 4 Nov 28 (Reuters) – Oil prices fell close to their lowest this year on Monday as street protests against strict COVID-19 curbs in China, the … Read more

Oil muted as price cap proposal eases supply concerns

Oil prices erase 2022 gains as China’s protests spark demand worries

G7 price cap on Russian oil could be above current trading level EIA gasoline stocks data shows higher than expected build COVID-19 controls tighten in China Nov 24 (Reuters) – Benchmark Brent oil edged lower on Thursday while West Texas Intermediate (WTI) crude held steady, hovering in sight of two-month lows as the level of … Read more

Oil rises 1% as OPEC+ focus on supply cuts outweighs recession concerns

Oil prices erase 2022 gains as China’s protests spark demand worries

EU softens Russian oil price-cap plan -Bloomberg Saudi Arabia, other OPEC producers deny output hike talks Beijing shuts parks and museums as China’s COVID cases rise Coming up: API supply report at 4:30 p.m. EST (2130 GMT) NEW YORK, Nov 22 (Reuters) – Oil prices rose about 1% on Tuesday after top exporter Saudi Arabia … Read more

Oil prices ease to near 2-month lows on China demand fears, dollar strength

Oil prices ease to near 2-month lows on China demand fears, dollar strength

Brent, WTI contracts earlier fell by around $1 a barrel Beijing districts close schools as China’s COVID cases rise Higher dollar weighs on prices LONDON, Nov 21 (Reuters) – Oil prices slipped to trade near two-month lows on Monday, having earlier slid by around $1 a barrel, as supply fears receded while concerns over fuel … Read more

Gasoline climbs to $1.07 over NYMEX in Los Angeles wholesale market -trade

Gasoline climbs to .07 over NYMEX in Los Angeles wholesale market -trade

HOUSTON, Nov 9 (Reuters) – California gasoline climbed to $1.07 a gallon over NYMEX December gasoline in the Los Angeles wholesale market following a Tuesday night fire at Chevron Corp’s (CVX.N) El Segundo, California, refinery, said West Coast market traders. Traders said California gasoline, called CARBOB, for November delivery opened at $1.00 over the NYMEX … Read more

Oil prices dip on China demand worries

Oil prices climb after OPEC+ keeps output cut targets, China eases COVID curbs

LONDON, Nov 8 (Reuters) – Oil prices slipped on Tuesday as recession concerns and worsening COVID-19 outbreaks in top crude importer China heightened fears of lower fuel demand. Brent crude fell 84 cents, or 0.9%, to $97.08 a barrel by 1006 GMT while U.S. West Texas Intermediate (WTI) crude fell 96 cents, or 1%, to … Read more

Oil stable near $100 a barrel as dollar weakens

Oil stable near 0 a barrel as dollar weakens

LONDON, Nov 7 (Reuters) – Oil prices were stable on Monday, close to $100 a barrel as support from a weaker dollar and recovering Chinese crude imports met renewed demand concerns linked to China’s stringent COVID containment approach. Brent crude futures were down 1 cent, or 0.1%, to $98.56 a barrel at 1444 GMT. U.S. … Read more

World is in its ‘first truly global energy crisis’ – IEA’s Birol

World is in its ‘first truly global energy crisis’ – IEA’s Birol

SINGAPORE, Oct 25 (Reuters) – Tightening markets for liquefied natural gas (LNG) worldwide and major oil producers cutting supply have put the world in the middle of “the first truly global energy crisis”, the head of the International Energy Agency (IEA) said on Tuesday. Rising imports of LNG to Europe amid the Ukraine crisis and … Read more

Oil prices drop more than 1% as China demand data disappoints

Oil prices drop more than 1% as China demand data disappoints

SINGAPORE, Oct 24 (Reuters) – Oil prices slid more than 1% on Monday after Chinese data showed that demand from the world’s largest crude importer remained lacklustre in September as strict COVID-19 policies and fuel export curbs depressed consumption. Brent crude futures for December settlement slid $1, or 1.1%, to $92.50 a barrel by 0609 … Read more