Brent crude futures fell to below the $75.9 per barrel mark on Tuesday, the lowest since mid-December 2023, as expectations of muted demand magnified the impact of relatively ample supply. A batch of new data from China exacerbated concerns that economic growth from one of the world’s largest oil consumers is unlikely to bounce back this year, with key gauges of domestic factory demand dropping more than expected in August.
brent crude
Crude Oil prices tick down as hopes of Middle East ceasefire eases supply worries
Crude Oil prices edged lower on Tuesday as Israel accepted a proposal to tackle disagreements blocking a ceasefire deal in Gaza, helping ease worries about a supply disruption in the Middle East.
Crude Oil sits 2% lower after China data fuels demand concerns amid US Fed rate cut hopes; Brent slips below $80/bbl
Global crude oil prices settled down nearly two per cent in the previous session, with Brent crude below $80 a barrel, as investors tempered expectations of demand growth from top oil importer China. Crude oil prices were little changed on the week after Wall Street lifted US Fed’s interest rate cut bets.
OPEC+ To Extend Oil Production Cuts Till April — Neal Bhai
OPEC+ To Extend Oil Production Cuts Till April. The Organization of the Petroleum Exporting Countries Plus, in its latest meeting, agreed to extend production cuts from March to April 2021.
Brent Oil Extends Advance Toward $60 on Tightening Global Market
Brent Oil advanced near $60 a barrel as global supplies tighten and the demand outlook improves with the rollout of Covid-19 vaccines.
Crude Oil Prices May Extend Gains as Investors Eye OPEC JMMC Meeting
VACCINE PROGRESS TO UNDERPIN OIL PRICES
Crude oil prices have stormed higher since falling to multimonth lows at the start of November, climbing over 40% in the last 6 weeks on the back of positive Covid-19 vaccine progress and the decision by OPEC+ to ease output cuts more moderately than expected.
Crude Oil Steady Near $47 Ahead of U.S. Coronavirus Vaccine Rollout
Crude Oil was steady in New York ahead of the rollout of the first Covid-19 vaccine in the U.S., raisingoptimism of a recovery in fuel demand in the world’s biggest crude consumer.
Regulator says 91% of U.S. Gulf crude oil production remains shut after hurricane
The U.S. Bureau of Safety and Environmental Enforcement (BSEE) said 91% of offshore crude oil production remains shut in the U.S.-regulated northern Gulf of Mexico following Hurricane Delta, which made landfall on Friday.
Oil Edges Higher on U.S Stockpiles Build and OPEC+ Compliance
Oil edged higher after a report pointed to a drop in U.S. crude stockpiles and on signs that additional supply from OPEC+ next month won’t be as much as previously anticipated.