Fundamental Development: Oil prices slipped on Friday but remained within touching distance of three-month highs as fears over new COVID-19 lock down measures in Shanghai outweighed solid demand for fuels in the United States, the world's top consumer. Brent crude futures for August were down 77 cents, or 0.6%, at $122.30 a barrel after a 0.4% decline the...
Fundamental Development: Oil was up on Thursday morning in Asia as U.S. demand stays strong and China demand may rebound with COVID-19 curbs easing. Brent oil futures rose 0.26% to $123.90 by 11:44 PM ET (3:44 AM GMT) and WTI futures edged up 0.18% to $122.33. Wednesday’s U.S. crude supply data from the U.S. Energy Information Administration showed a build of...
Fundamental Development: Oil was up on Wednesday morning in Asia, supported by tight supplies and recovering fuel demand as China continued easing COVID-19 curbs in top cities. Brent oil futures edged up 0.12% to $120.73 and WTI futures rose 0.23% to $119.70. Tuesday's U.S. crude supply data from the American Petroleum Institute showed a build of 1.845 million...
Fundamental Development: Oil was up on Tuesday morning in Asia over expectations of demand recovery in China and doubts about higher output targets from the Organization of the Petroleum Exporting Countries and allies (OPEC+). Brent oil futures rose 0.62% to $120.25. WTI futures jumped 0.71% to $119.34; the benchmark hit a three-month high of $120.99 on Monday....
Fundamental Development Oil prices gained slightly on Wednesday after European Union leaders agreed to a partial and phased ban on Russian oil and as China ended its COVID-19 lock down in Shanghai. Brent crude for August delivery was up 28 cents, or 0.2%, at $115.88 a barrel. The contract settled down 1.7% on Tuesday. The front-month contract for July delivery...
Fundamental Development Oil prices extended gains on Tuesday after the EU agreed to slash oil imports from Russia, fueling worries of a tighter market already strained for supply amid rising demand ahead of peak U.S. and European summer driving season. Brent crude for July, which expires on Tuesday, raised $1.13 to a fresh two-month top of $122.80 a barrel. The...
Fundamental Development Oil prices fell by more than $1 on Tuesday as concerns over a possible recession and China's COVID-19 curbs outweighed an expectation of tight global supply and a pick-up in fuel demand with the U.S. summer driving season. Brent crude futures for July fell $1.34, or 1.2%, to $112.08 a barrel. U.S. West Texas Intermediate (WTI) crude futures...
Fundamental Development Oil was up on Monday morning in Asia as the upcoming U.S. peak driving season could see higher fuel demand. Brent oil futures gained 0.63% to $110.71 and crude oil WTI futures jumped 0.54% to $110.88. A weakening dollar also gave the black liquid a boost because that makes crude cheaper for buyers holding other currencies. However, gains...
Fundamental Development Oil was down on Friday morning in Asia, but little changed as concerns about weaker economic growth eclipse expectations of a demand rebound in China. Brent oil futures fell 0.72% to $111.23. WTI futures fell 0.99% to $108.80 on its last day as the front-month, with futures for July down about 0.6% to $109.20. WTI futures are now set to...
Fundamental Development Oil was down on Tuesday morning in Asia, opening lower earlier in the session. The European Union's move to enact a ban on Russian oil imports, which would tighten global supplies, ran into opposition from member country Hungary. Brent oil futures edged down 0.18% to $114.03 and WTI futures edged down 0.20% to $111.60. Shanghai set out...
Oil was down on Monday morning in Asia, the European Union (EU)’s impending ban on Russian crude imports is driving global supply fears. Brent oil futures dropped 2.18% to $109.12 and WTI futures fell 2.04% to $106.41. Both Brent and WTI benchmarks, which jumped about 4% during the previous Friday, increased by more than $1 a barrel earlier in the session, with...
Fundamental Development Oil prices dropped more than 1% on Thursday in a volatile week as economic concerns and recession fears dogged global financial markets, outweighing supply concerns and geopolitical tensions in Europe. Brent crude futures slipped $1.25, or 1.2%, to $106.26 a barrel. WTI crude futures fell $1.24, or 1.2%, to $104.47 a barrel. U.S. headline...
Fundamental Development Oil was up on Wednesday morning in Asia, as investors await US and China economic data. Brent oil futures rose 1.99% to $104.36 and crude oil WTI futures jumped 2.27% to $101.96. Investors will be keeping an eye on China’s April factory gate prices and the US consumer –price index. A stronger dollar in particular, affects commodities like...
Fundamental Development Oil was down on Tuesday morning in Asia due to demand outlook concerns as top oil importer China imposes lock downs and economic tensions rise in Europe. Brent oil futures fell 0.87% to $105.02 while crude oil WTI futures slipped 0.84% to $102.22. Financial markets are reflecting fears that sanctions on Russian oil imports after its...
Fundamental Development Oil was up on Friday morning in Asia, recovering from an earlier drop. However, worries about an economic downturn that could affect fuel demand persisted, alongside concerns over the latest European Union (EU) sanctions against Russia. Brent oil futures rose 0.54% to $111. In addition, WTI futures rose 0.57% to $108.88. U.S. stocks...
Fundamental Development Oil was up on Thursday morning in Asia, extending gains from the previous session after the European Union (EU) unveiled new sanctions against Russia. Brent oil futures were up 0.35% to $110.53 and WTI futures edged up 0.20% to $108.03. The EU proposal, announced by European Commission President Ursula vonder Leyen, includes phasing out...
Fundamental Development Oil was up on Thursday morning in Asia, extending gains from the previous session after the European Union (EU) unveiled new sanctions against Russia. Brent oil futures were up 0.35% to $110.53 and WTI futures edged up 0.20% to $108.03. The EU proposal, announced by European Commission President Ursula vonder Leyen, includes phasing out...
Fundamental Development Oil was up on Wednesday morning in Asia, with investors continuing to digest a draw down in U.S. crude supply that raised supply concerns. Brent oil futures rose 1.01% to $106.03 and WTI futures jumped 1.14% to $103.58. The gains came after the European Union said on Tuesday that it is mapping out fresh sanctions against Russia. The...