Monthly Archives: December 2021

Oil was up Thursday morning in Asia, continuing an upward trend as data showed a decline in U.S. crude and fuel inventories last week. This soothed investor worries that rising COVID-19 cases had dampened fuel demand. Brent oil futures were up 0.47% to $79.60 by 9:53 PM ET (2:53 AM GMT) and WTI futures gained 0.51% to $76.95. […]

Oil prices rose on Thursday to extend several consecutive days of gains, buoyed by data showing U.S. fuel demand holding up well despite soaring Omicron coronavirus infections. Brent crude futures rose 24 cents, or 0.3%, to $79.47 a barrel at 0502 GMT, up for a fourth day. U.S. West Texas Intermediate (WTI) crude futures rose 26 […]

Oil prices settled higher on Tuesday, with Brent crude ending the session near $80 a barrel despite the rapid spread of the Omicron coronavirus variant, supported by supply outages and expectations that U.S. inventories fell last week. Brent crude settled up 34 cents, or 0.4%, at $78.94 a barrel by 1:39 p.m. EST (1839 GMT). U.S. West […]

Oil prices edged higher on Wednesday after rallying overnight as industry data showed a decline in U.S. inventories, boosting demand sentiment. Brent crude rose 16 cents, or 0.2%, at $79.10 a barrel by 0441 GMT. U.S. West Texas Intermediate (WTI) crude climbed 5 cents, or 0.07%, to $76.03 a barrel. “Some long-covering is evident in Asia […]

-Oil prices extended gains on Tuesday with prices trading near the previous day’s one-month high on hopes that the Omicron coronavirus variant will have a limited impact on fuel demand. Brent crude rose 14 cents, or 0.1%, to $78.74 a barrel, by 0437 GMT. U.S. West Texas Intermediate (WTI) crude rose 25 cents, or 0.3%, to […]

The Covid-19 pandemic has marked the end of an era for Southeast Asia’s combined oil and gas production, pushing the region’s output in 2021 to below 5 million barrels of oil equivalent per day (boepd) for the first time since 1998, a threshold that is not likely to be exceeded again in the future despite […]

With Brazilian oil demand set to continue, Petrobras is making big plans for oil and gas as well as testing the water with greener fuels, although it is not yet investing in other renewables such as solar or wind power. As several countries move away from fossil fuel production towards renewable alternatives, many will have […]

The CDC first designated Omicron as a Variant of Concern on December 1, but crude oil bottomed on December 2 when OPEC+ made its output decision.

South Korea will release 3.17mn bl of oil from its reserves starting next month, as part of a global effort by oil-consuming countries to lower fuel prices. South Korea will sequentially release the oil from January-March next year according to the production plans of each refinery, the ministry of trade, industry and energy (Motie) said […]

Oil pieces have climbed after a decrease in U.S. crude stockpiles and higher equities pushed by economic data. Brent oil futures edged up 0.03% to $75.62 by 9:51 PM ET (2:51 AM GMT) and WTI futures were up 0.35% to $73.12. Last week, the Energy Information Administration reported crude inventories have declined 4.72 million barrels. Rising home sales and […]