Oil Futures Curve Sends Warning Sign
Brent crude for February settlement flipped to trade at a discount to the March contract for the first time since March, excluding the days when the contracts expire. The oil Continue Reading
Explainer: Oil prices rise, with few U.S. government brakes available
Oil prices have soared to seven-year highs as the global economy has recovered, and driven the U.S. retail gasoline cost to $3.42 a gallon, the highest in seven years. The Continue Reading
Crude oil futures extend losses as omicron concerns mount
Crude oil futures were lower in mid-morning trade in Asia Dec. 15, extending losses from the previous session, as concerns over an impending surge in COVID-19 cases from the omicron Continue Reading
Oil Extends Losses on Omicron Spread Uncertainty, China Demand
Oil declined for a third day as further restrictions were imposed to counter the spread of the omicron Covid-19 variant while the outlook for demand in China dimmed as Beijing Continue Reading
Crude Down as Market Returns to Surplus and Restrictions Tighten
Oil fell as the International Energy Agency said the global oil market has returned to surplus, while some countries tightened restrictions in an effort to tame the omicron variant’s spread. Continue Reading
Crude oil futures fall as omicron threat overshadows bullish OPEC report
Crude oil futures declined in mid-morning trade in Asia Dec. 14, as recent reports showing a growing impact from the COVID-19 omicron variant threat overshadowed a bullish outlook from OPEC’s Continue Reading
Oil Advances After OPEC Boosts First-Quarter Demand Forecast
Oil gained as continuing uncertainty over the omicron virus variant’s impact on demand was countered by an increase in OPEC’s demand forecast for next quarter. Brent crude climbed toward $75 Continue Reading
Oil Prices Fall on Omicron Concerns and Demand Forecast
Oil slipped in New York as traders weighed the risks from the omicron variant and OPEC boosted its forecast for global crude demand. West Texas Intermediate closed down 0.5% on Continue Reading
Oil Rises After Weekly Gain on Omicron Relief and China Optimism
Oil extended gains — after its biggest weekly advance since late August — on more signs that omicron won’t be as bad as initially feared and predictions that China will Continue Reading
WTI Settles Up 8.2% on the Week
Crude had the strongest week since August on fading omicron fears. Oil set its biggest weekly gain in more than three months as the worst fears over the new virus Continue Reading