Page 81 - Pec News Today

Oil prices rose Monday as the market kicked off 2022 on a positive note, although concerns over demand waning due to rapidly spreading Covid-19 pandemic limited gains. Brent crude added 67 cents, or 0.86 per cent, to $78.45 a barrel, as of 5.32 am. US West Texas Intermediate crude futures gained 77 cents, or 1.02 per cent, to $75.98 a barrel. Last year, oil prices rose around

Oil prices fell 1 per cent on Friday but were set to post their biggest annual gains in 12 years, spurred by the global economic recovery from the Covid-19 slump and producer restraint, even as infections surged to record highs around the world. On the last day of 2021, Brent crude futures were on track to end the year up 53 per cent, while US crude futures were headed for a

Oil prices rose on Thursday for a third straight day, underpinned by a weaker dollar on optimism about global growth, even as governments from Australia to Europe step up curbs to slow the spread of the Omicron coronavirus variant. US West Texas Intermediate (WTI) crude futures gained 35 cents, or 0.5%, to $73.11 a barrel at 0244 GMT after jumping 2.3% in the previous session.

India, the world's third-largest oil importer and consumer, on Monday said oil prices have to be reasonable and market-determined as it expressed concern over rise in rates on supplies being artificially adjusted below demand by producing countries.

WASHINGTON (AP) — Prices for U.S. consumers jumped 6.8% in November compared with a...

OPEC+ succeeded this week in injecting the much-needed enthusiasm and bullishness in a market that has been dour for weeks

Washington is planning to release oil from its strategic reserve in coordination with other nations to keep down prices – a plan that could involve Beijing.

Oil prices climbed on Friday, extending gains after OPEC+ said it would review supply additions ahead of its next scheduled meeting if the Omicron variant hits demand, but prices were still on course for a sixth week of declines. US West Texas Intermediate (WTI) crude futures rose 27 cents, or 0.4%, to $66.77 a barrel at 0122 GMT, adding to a 1.4% gain on Thursday. Brent crude

It's unclear whether the Saudis think there was a quid pro quo for their decision — even if the Americans don’t.

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