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Oil Down, Set for 3% Weekly Drop Over 210-Million-Barrel Emergency Release
April 8, 2022
Source: UK Investing

Oil Down, Set for 3% Weekly Drop Over 210-Million-Barrel Emergency Release

Investing.com – Oil was down on Friday morning in Asia and was set for a weekly loss of 3% after consuming countries agreed to release a total of 240 million barrels of oil from emergency stocks.

Crude oil prices fall, continuing downward trend from last week
March 14, 2022
Source: Energy World

Crude oil prices fall, continuing downward trend from last week

Brent crude futures fell $1.82, or 1.6%, to $110.85 a barrel by 6:47 p.m. ET (2247 GMT). WTI crude futures fell $2.41, or 2.2%, to $106.92 a barrel.

Oil price turns negative in response to Ukraine uncertainty
Feb. 24, 2022
Source: Energy World

Oil price turns negative in response to Ukraine uncertainty

Brent crude fell 11, or 0.3 per cent, to $91.80 a barrel at 1:05 p.m. EDT (1805 GMT), after hitting $99.50 on Tuesday, the highest since September 2014

ATF price hiked by 8.5%; touches all-time high
Feb. 2, 2022
Source: Energy World

ATF price hiked by 8.5%; touches all-time high

ATF price was hiked by Rs 6,743.25 per kilolitre or 8.5 per cent to Rs 86,038.16 per kl in the national capital, according to a price notification of state-owned fuel retailers

Oil Prices Up, Despite Omicron Fears
Dec. 29, 2021

Oil Prices Up, Despite Omicron Fears

Serious outbreaks of the coronavirus are tied to lockdowns and decreases in travel while recovery from the pandemic is tied to increased use of cars and airplanes. As a reuslt, the positive news resulted in a spike in oil prices. Futures of West Texas Intermediate, the benchmark for American oil, increased by 2.4 percent on Monday, exceeding $75 per barrel. Despite the positive developments, there are signs that the Omicron variant will remain a serious concern. Infections from the variant are already higher than they were at the height of the “delta variant” wave earlier in the year. Meanwhile, China, which responded to the pandemic in a manner that was widely lauded at the outset and has kept case rates remarkably low, tallied the highest number of coronavirus cases since January.

Oil Rises to Four-Week High as U.S. Crude Stocks Decline
Dec. 23, 2021
Source: Investing.com

Oil Rises to Four-Week High as U.S. Crude Stocks Decline

(Bloomberg) -- Oil settled at the highest level in nearly a month after U.S. crude stockpiles decreased and economic data pushed equities higher. West Texas Intermediate futures rose 2.3%, closing above $72 for the first time in two weeks. Prices got a boost after the Energy Information Administration reported crude inventories declined 4.72 million barrels last week. Meanwhile, rising home sales and consumer confidence signaled economic strength, blunting worries about omicron’s impact. “The report was modestly bullish, due to the large crude oil inventory drawdown,” said John Kilduff, a partner at Again Capital LLC. Though he cautioned crude oil inventories typically decline this time of year for tax avoidance purposes.

Oil Up, Concerns About Omicron Impact Continue to Fall
Dec. 13, 2021
Source: Investing.com

Oil Up, Concerns About Omicron Impact Continue to Fall

Investing.com – Oil was up Monday morning in Asia, extending recent gains as fears over the omicron COVID-19 variant’s impact on the economic recovery and fuel demand continue to ease. Brent oil futures rose 1.52% to $76.29 by 10:26 PM ET (3:26 AM GMT) and WTI futures jumped 1.59% to $72.81. Both Brent and WTI futures gained around 8% last week, the first weekly gain in seven. "Market sentiment has improved as the threat of the omicron variant has receded. WTI futures will probably test its recent high of $73.34 and then try to rise towards $78, the level before the Omicron fears led to a sharp sell-off in late November," Fujitomi Securities Co Ltd. analyst Toshitaka Tazawa told Reuters.

Oil rebounds on speculation OPEC+ may pause output increase
Nov. 29, 2021
Source: Reuters

Oil rebounds on speculation OPEC+ may pause output increase

TOKYO, Nov 29 (Reuters) - Oil prices rebounded on Monday as investors looked for bargains after Friday's slump and on speculation that OPEC+ may pause an output increase in response to the spread of Omicron, but the mood remained cautious with little known about the new variant.

Oil slips on plans to tap emergency crude reserves
Nov. 23, 2021

Oil slips on plans to tap emergency crude reserves

MELBOURNE :Oil prices fell on Tuesday, reversing gains in the previous session, on growing talk the United States, Japan and India will release crude reserves to tame prices despite the threat of demand faltering as COVID-19 cases flare up in Europe. The United States is expected to announce a loan of crude oil from its emergency stockpile on Tuesday as part of a plan it hashed out with major Asian energy consumers to lower energy prices, a Biden administration source familiar with the situation said.

Growing oil demand, shrinking stockpiles push Brent crude past $70
May 19, 2021
Source: world oil

Growing oil demand, shrinking stockpiles push Brent crude past $70

Brent oil topped $70 a barrel with optimism building about the demand outlook in key regions such as the U.S., and on signs that a glut built up last year has been whittled away. The global benchmark added as much as 1.1% reaching its highest since March 8, while U.S. crude futures briefly topped $67 a barrel. The global benchmark hasn't had a sustained period above $70 since 2019.

Oil prices stumble over rising coronavirus cases
Dec. 8, 2020

Oil prices stumble over rising coronavirus cases

Coronavirus cases continue to rise in the United States and Europe. Oil prices added to the losses of the previous session on Tuesday. WTI slipped by 0.4%, to $45.58 a barrel. Brent fell by 0.5%, to $48.55 a barrel. ANZ Research said, "For the moment, the market is happy to look past these issues as the vaccine rollout begins; however the economic headwinds are building in the short term".

Post US-Hurricane the oil prices showed a downfall of 1%
Oct. 12, 2020
Source: Reuters

Post US-Hurricane the oil prices showed a downfall of 1%

Hurricane Delta and the Norwegian Crisis lead to a 1% fall in the oil price. The Brent crude fell 41 cents to $42.44 a barrel and WTI was down by 42 cents to $40.18. Libya’s’ increased production & US elections are expected to disrupt the market more. Amidst this, hope came from OPEC+, as they agreed to reduce oil output by 7.7 million BPD in order to rebalance the market.

Oil prices jump over Federal Reserve's boost to economy
March 24, 2020
Source: Reuters

Oil prices jump over Federal Reserve's boost to economy

Oil prices jumped in the international market on Tuesday, buoyed up by the steps taken by U.S. Federal Reserve to boost the economy. Brent crude climbed up 5.1%, to $28.41 a barrel. US WTI crude rose 6.6%, to $24.90 barrel. The expected stimulus bolstered the U.S. dollar lower against other currencies. Oil prices and other dollar-denominated commodities will find support from a weaker dollar.

Oil prices increase over concerns of decreased crude flow
June 14, 2019
Source: Reuters

Oil prices increase over concerns of decreased crude flow

Oil extends gains from the previous session following the attacks on two oil tankers in the Gulf of Oman. This incident has stirred up the concerns of reduced crude flows through one of the world’s key shipping routes. Brent crude increased by 0.8% and was traded at $61.81 a barrel. WTI rose by 0.4% and was traded at $52.49 a barrel.

Surge in US crude inventories hit oil prices
June 5, 2019
Source: Reuters

Surge in US crude inventories hit oil prices

Oil prices extended further decline on Wednesday due to unexpected gain in US inventories. The prices were also dragged down because of the questions thrown at OPEC on supply cut by Russian state oil producer Rosneft. Brent went down by 0.7% and was traded at $61.55 a barrel. WTI decreased by 0.9% and was traded at $53 a barrel.

Oil prices dip over US stockpile build
May 15, 2019
Source: Reuters

Oil prices dip over US stockpile build

Oil prices dropped on Wednesday over rising levels of US crude stockpiles, and low Chinese industrial output, however tensions in the Middle East prevented further drops. Brent crude futures dropped 0.3%, and were traded at $71.04 a barrel. U.S. West Texas Intermediate crude futures fell 0.7%, and were priced at $61.38 per barrel. An EIA report showed that crude inventories grew by 8.6 million barrels last week.

Oil prices gain firm grounds on Friday
April 12, 2019
Source: Reuters

Oil prices gain firm grounds on Friday

Oil prices settled on Friday on the grounds of producer cartel OPEC's supply cuts and the US sanctions on petroleum exporters Iran and Venezuela. WTI went up by 0.3%, to $63.78 per barrel. International Brent increased by 0.3% and was traded at $71.01 per barrel. According to a Canadian Bank, “Geopolitically infused rallies could shoot prices toward or even past the $80 per barrel mark for intermittent periods this summer”.

Oil prices to hit biggest first-quarter gains since 2009
March 29, 2019
Source: Reuters

Oil prices to hit biggest first-quarter gains since 2009

Crude market is ready to post its biggest first-quarter gain since 2009. Oil prices surged on Friday supported by ongoing supply cuts led by OPEC and US sanctions on Iran and Venezuela. WTI went up 0.4%, to $59.56 per barrel. Brent increased by 0.4%, to $68.12 per barrel. The second quarter of 2009 was the last best performance of both the futures where they gained about 40%.

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