(Reuters) – Oil prices steadied above $88 a barrel on Wednesday after rallying in the previous session on a surprise fall in U.S. crude stocks and a drop in business activity in the world’s largest oil consumer. Brent crude futures fell 24 cents, or 0.27%, to $88.18 a barrel by 1024 GMT. U.S. West Texas … Read more

Summary Prices down after jumping $1 on strong euro zone PMI data U.S. Senate to take up aid package with Iran oil sanctions Political backdrop fraught with many risks: ANZ April 23 (Reuters) – Oil prices slipped on Tuesday after a short-lived boost from stronger economic data out of Europe as the market weighed the … Read more

Summary Escalation of MidEast conflict not affecting oil supplies so far Plentiful supplies, economic concerns limit impact of conflict High OPEC spare capacity counters supply risks, analysts say LONDON, April 22 (Reuters) – Global benchmark Brent slipped on Monday though it remained above $86 a barrel as traders turned their focus back to inflation with … Read more

The logic at play is simple: New restrictions in the National Petroleum Reserve won’t raise pump prices this summer but could motivate the younger voters the president needs. By Liam Denningpinn Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote … Read more

Brent settles near $87 a barrel after earlier surge above $90 Flurry of options trades signal urge to protect against spikes Oil eked out a meager gain after Iranian media appeared to downplay the effect of Israeli strikes, lowering the geopolitical risk premium for crude. Global benchmark Brent earlier soared more than $3, popping above $90 a … Read more

Summary Prices fall for fourth straight session, down 4% on week OPEC spare capacity could offset Iran sanctions, analyst says EIA: U.S. crude inventories up 2.7 million barrels (Reuters) – Oil prices fell to a three-week low on Thursday, extending losses on hopes of easing tensions in the key producing region of the Middle East, … Read more

Summary Fed’s Powell: need higher interest rates for longer U.S. stocks seen up 1.4 million barrels – poll Market unwinding war premium, says analyst (Reuters) – Oil prices slipped for a third straight session on Wednesday as likely higher U.S. commercial inventories weighed, while weaker economic data from China and dimmed prospects of interest rate … Read more

Summary Brent reached six-month high on Friday China’s Q1 GDP grows 5.3% y/y, well above forecast Iran will respond to any action against its interests (Reuters) – Oil slipped for a second day on Tuesday as easing concern about supply risks and a rapidly escalating conflict after Iran’s weekend attack on Israel offset data showing … Read more

Oil prices fall after Iran’s attack on Israel Summary Iran says it considers retaliation against Israel to be over Benchmarks had risen in anticipation of Iran’s attack Uncertainty remains over Israeli response (Reuters) – Oil prices drifted lower on Monday, with the market downplaying the risk of broader regional conflagration after Iran’s weekend attack on … Read more

Summary Concern of fewer U.S. rate cuts weighs IEA cuts 2024 demand growth view US drillers cut oil and gas rigs for fourth week in a row NEW YORK, April 12 (Reuters) – Oil rose around 1% on Friday on geopolitical tensions in the Middle East but posted a weekly loss on a bearish world oil demand … Read more

Summary Crude near six-month high Concern of fewer U.S. rate cuts weighs Market pares gains after IEA cuts 2024 demand growth view LONDON, April 12 (Reuters) – Oil rose over 1% on Friday as heightened tensions in the Middle East raised the risk of supply disruptions from the oil-producing region, though the market is set … Read more

(Reuters) – Oil prices slipped on Thursday as persistent inflation dampened rate cut optimism but stayed near six-month highs as investors braced for a potential attack on Israeli interests by Iran. Brent crude futures were down 49 cents or 0.5% to $89.99 a barrel at 1030 GMT, while U.S. West Texas Intermediate crude futures lost … Read more

(Reuters) – Oil prices rose on Wednesday after two days of losses as a deadlock in Gaza ceasefire talks renewed uncertainty about the security of supply from the Middle East and offset a bigger-than-expected build in U.S. crude inventories. Brent crude futures were up 30 cents, or 0.3%, at $89.72 per barrel at 1010 GMT, … Read more

Summary Companies Israel withdraws more soldiers from southern Gaza Israel and Hamas send teams to negotiate potential ceasefire PVM expects Brent to stay below $100/barrel U.S. and Chinese consumer prices data in focus this week LONDON, April 8 (Reuters) – Oil drifted lower on Monday after Israel withdrew more soldiers from Gaza and committed to … Read more

Summary Brent, WTI on track to rise more than 4% this week Traders focused on geopolitical tensions U.S. economy added 303,000 jobs last month U.S. drillers cut of oil and gas rigs (Reuters) – The Brent and U.S. West Texas Intermediate crude oil benchmarks rose more than $1 a barrel during trade on Friday as … Read more