Author Archives: blackwhite

Crude oil scores fourth straight weekly gain as worries mount over Ukraine

Crude oil futures rallied today to cap a fourth straight weekly gain, with rising tensions between Russia and Ukraine heightening the potential for a disruption to global crude supplies, while traders grow more optimistic over energy demand prospects. February WTI crude (CL1:COM) closed +2.1% to settle at $83.82/bbl, surging 6.2% for the week and within 1% of a multiyear high, as […]

Oil prices hold firm amid hopes for economic growth

Oil prices steadied on Wednesday, following steep gains in the previous session after the U.S. Federal Reserve chief signalled the central bank may raise rates more slowly than expected, which should help support oil demand. Brent and U.S. crude oil are trading at their highest levels since the highly contagious COVID-19 Omicron emerged in late November, as […]

Asian stocks, dollar steady as investors focus on Fed policy

Asian equities and the dollar struggled to find direction on Tuesday as investors awaited Federal Reserve Chair Jerome Powell’s appearance before the Senate Banking Committee, hoping for clues to the timing of expected policy tightening. Powell is seeking a second four-year term as head of the Fed, and his appearance before the committee will be […]

Oil prices rise on renewed risk appetite, tight OPEC supply

Oil prices climbed on Tuesday, with investors regaining some risk appetite as they await clues from the U.S. Federal Reserve chairman on potential interest rate rises and as some oil producers continued to struggle to beef up output. Brent crude futures gained 40 cents, or 0.5%, to $81.27 a barrel at 0529 GMT, after dropping 1% […]

Oil Up, but Soaring Omicron Cases Ignite Fuel Demand Worries

Oil was up on Monday morning in Asia, but the rapidly spreading omicron COVID-19 variant raises fuel demand concerns. However, losses were curbed by supply disruptions in both Kazakhstan and Libya. Brent oil futures was up 0.37% to $82.08 by 9:48 PM ET (2:48 AM GMT). WTI Futures jumped 0.33% to $79.16 remaining under the $80 mark. Investors […]

Oil prices edge up on Kazakhstan, Libyan supply worries

Oil prices edged up on Monday as supply disruptions in Kazakhstan and Libya offset worries stemming from the rapid global rise in Omicron infections. Brent crude gained 16 cents, or 0.2%, at $81.91 a barrel at 0406 GMT, while U.S. West Texas Intermediate (WTI) crude was up 15 cents, or 0.2%, at $79.05 a barrel. Oil […]

Oil prices dip ahead of OPEC+ output policy meeting Commodities

Oil prices surrendered earlier gains on Tuesday as investors embraced expectations that major oil producers will confirm a plan to add supply later on Tuesday amid diminishing concerns over the spread of the Omicron variant of COVID-19. Brent crude futures lost 25 cents to $78.74 a barrel at 0739 GMT, while U.S. West Texas Intermediate (WTI) […]

Oil Up, but COVID-19-fuelled Fuel Demand Worries Cap Gains

Oil was up on Monday morning in Asia, as Libyan tightened supplies ahead of an Organization of the Petroleum Exporting Countries and allies (OPEC+) meeting. Concerns about falling fuel demand as COVID-19 continues to spread also capped gains for the black liquid. Brent oil futures were up 0.40% to $78.17 by 8:59 PM ET (1:59 AM GMT) and WTI […]

Oil starts new year on positive note, pandemic worries curb gains

Oil prices firmed on Monday as the market kicked off 2022 on a positive note with suppliers in focus ahead of Tuesday’s OPEC+ meeting, although surging COVID-19 cases continued to dent demand sentiment. Brent crude added 59 cents, or 0.76%, to $78.37 a barrel, as of 0440 GMT. U.S. West Texas Intermediate crude futures gained 63 […]