Page 39 - Wti News Today

SINGAPORE: Oil prices gave up early gains on Thursday after parts of Shanghai imposed new COVID-19 lockdown measures, outweighing news of China’s stronger-than-expected exports in May.

- International benchmark Brent crude now estimated to average $107.37 per barrel in 2022 and $97.24 per barrel in 2023 - Anadolu Agency

NEW YORK: Oil prices gained about 1% on Tuesday, with U.S. crude settling at a 13-week high on supply concerns, including no nuclear deal with Iran, and prospects for demand growth in China, which is relaxing lockdowns to control the pandemic.

SINGAPORE: Oil futures jumped on Monday, with Brent rising above $120 a barrel after Saudi Arabia hiked prices for its crude sales in July, signalling tight supply even after OPEC+ agreed to accelerate output increases over the next two months.

Tight supply in oil markets continues to drive price action, and despite OPEC’s intention to pump more crude, compliance rates are still lagging behind

NEW YORK: Oil prices rose on Wednesday after European Union leaders agreed to a phased ban on Russian oil and as China ended its COVID-19 lockdown in Shanghai, which could bolster demand in an already tight market.

Oil prices rose in early Asian trade on Tuesday after European Union leaders said they had agreed to cut 90% of oil imports from Russia by the end of this year.

Oil prices have been rising this week on a flurry of bullish news, and analysts see price risk to the upside as traders are betting on a reopening of the Chinese economy in June

NEW YORK Oil prices climbed about 3% to a two-month high on Thursday on signs of tight supply ahead of U.S. summer driving season, as the European Union (EU) wrangled with Hungary over plans to ban crude imports from Russia over its invasion of Ukraine.

SINGAPORE: Oil prices fell by more than $1 on Tuesday as concerns over a possible recession and China's COVID-19 curbs outweighed an expectation of tight global supply and a pick-up in fuel demand with the U.S. summer driving season.