(Bloomberg) -- Oil took a breather near $111 a barrel after a sizzling rally as buyers continued to shun Russian crude following its invasion of Ukraine, while OPEC+ is doing its best to ignore the war started by one of its key members.
Oil extended gains after rallying to a seven-year high as the market continued to tighten amid a global energy crunch. Futures in New York climbed toward $80 a barrel after jumping almost 6 percent over the past four sessions. Prices closed at the highest since 2014 on Tuesday as surging…
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(Bloomberg) — Oil advanced toward $64 a barrel as more signs the U.S. economy is rapidly bouncing back from the pandemic outweighed concern a revival of the Iranian nuclear deal will lead to an increase in global supply.
West Texas Intermediate was 0.6% higher, after rising 2.5% on Friday. The spread of coronavirus in the U.S. has slowed further, with the country ending its first week since June with no days of infections exceeding 30,000. Death rates continue to ebb in France and Italy, boding well for energy consumption.
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Oil advanced above $64 a barrel as more signs the U.S. economy is rapidly bouncing back from the pandemic outweighed concern a revival of the Iranian nuclear deal will lead to an increase in global supply.
(Bloomberg) -- Oil advanced above $64 a barrel as more signs the U.S. economy is rapidly bouncing back from the pandemic outweighed concern a revival of the Iranian nuclear deal will lead to an increase in global supply.
West Texas Intermediate was 0.8% higher, after rising 2.5% on Friday. The spread of coronavirus in the U.S. has slowed further, with the country ending its first week since June with no days of infections exceeding 30,000. Death rates continue to ebb in France and Italy, boding well for energy consumption.
Stocks Edge Higher, As Bitcoin Attempts Recovery
05/24/21 AT 12:04 PM
European and US stocks advanced Monday after a mixed session in Asia, while bitcoin tried to rally after a weekend plunge.
London's FTSE 100 index was 0.5 percent higher as trading ended for the day, while the Paris CAC 40 added 0.4 percent.
Muted European exchanges earlier in the day ended with gains after upbeat trading got underway in New York.
Frankfurt was one of a number of exchanges shut owing to a public holiday.
Bitcoin jumped to around $38,000, after dropping again Sunday towards $30,000.
The last time it fell below that level was in January.