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Fundamental Development: Oil was down on Friday morning in Asia, weighed down by demand concerns following global interest rate hikes. Brent oil futures were down 0.62% to $119.07 and crude oil WTI futures were down 0.69% to $116.78. The Bank of Japan Friday decided to keep policy ultra loose despite rising inflation while some other global central banks are...

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Fundamental Development: Oil was up on Thursday morning in Asia, supported by peak summer demand and tight global supply, despite the U.S. interest rate hike spurring concerns over less fuel demand. Brent oil futures rose 0.65% to $119.28 and crude oil WTI futures jumped 0.91% to $116.36. Wednesday’s U.S. crude supply data from the U.S. Energy Information...

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Fundamental Development: Oil was up on Wednesday morning in Asia amid concerns of uncertain economic outlook ahead of potentially aggressive U.S. interest rate hikes decisions. Brent oil futures edged up 0.14% to $121.34 and crude oil WTI futures edged up 0.15% to $119.11. Tuesday’s U.S. crude supply data from the American Petroleum Institute showed a build of...

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Fundamental Development: Oil prices inched lower after seesawing through early trading on Tuesday, as worries that fuel demand would hit by a possible recession and fresh COVID-19 curbs in China outweighed tight global supplies. U.S. West Texas Intermediate (WTI) crude fell 22 cents, or 0.2% to $120.71, while Brent crude futures eased 25 cents, or 0.2%, to...

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Fundamental Development: Oil prices slid Monday as flare-up in COVID-19 cases in Beijing quelled hopes for a rapid pick-up in China's fuel demand, while worries about global inflation and sluggish economic growth further depressed the market. Brent crude futures fell $1.81, or 1.48%, to $120.20 a barrel while U.S. West Texas Intermediate crude was at $118.81 a...

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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...

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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...

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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...

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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....

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Fundamental Development: Oil futures jumped on Monday, with Brent rising above $120 a barrel after Saudi Arabia hiked prices for its crude sales in July, signaling tight supply even after OPEC+ agreed to accelerate output increases over the next two months. Brent crude was up 91 cents, or 0.8%, at $120.63 after touching an intraday high of $121.95, extending a...

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Fundamental Development: Oil prices moved in a thin range on Friday as markets shrugged off the decision of OPEC+ to increase production and questioned whether the incremental output could make up for lost supply from Russia and meet China's growing demand amid easing COVID restrictions. U.S. West Texas Intermediate (WTI) crude futures dropped 29 cents to $116.58...

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Fundamental Development Oil prices fell on Thursday as investors cashed in on a recent rally ahead of a key producers meeting later in the day, with some speculation that Saudi Arabia may boost oil production in response to urging by the United States. Brent crude was down $2.08, or 1.8%, at $114.21 a barrel, having risen 0.6% the previous day. U.S. West Texas...

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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...

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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...

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Fundamental Development Oil was up on Monday morning in Asia, hitting two-month highs as investors wait and see if the European Union can reach an agreement on a sixth package of sanctions against Russia for its war in Ukraine. Brent oil futures rose 0.73% to $116.and WTI futures rose 0.85% to $116.05, extending the previous week’s gains. The EU will meet on...

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Fundamental Development Oil prices hovered around a two-month high on Friday, with Brent crude on track for its biggest weekly jump in 1-1/2 months, supported by the prospect of an EU ban on Russian oil and the coming summer driving season in the United States. Brent crude futures for July dipped 9 cents to $117.31 a barrel after rising to as high as $118.17...

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Fundamental Development Oil prices raised more than $1 on Wednesday, buoyed by tight supplies and the prospect of rising demand from the upcoming start of the summer driving season in the United States, the world's biggest crude consumer. Brent crude futures for July rose $1.38, or 1.2%, to $114.94 a barrel. Brent futures gained 0.1% on Tuesday and are up for a...

RATONYCNC

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...