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Oil Climbs With Market Structure Firming on Tightening Supplies Bloomberg 2/9/2021 Andres Guerra Luz (Bloomberg) -- Oil continued its advance for the seventh straight session on expectations of a strong rebound in demand and as the dollar weakened. Popular Searches Futures in New York climbed above $58 a barrel, the highest since January 2020 after a choppy trading session Tuesday. The nearest Brent contract sharply widened its premium to the following month, pointing to supply tightness, with inventories shrinking globally and amid expectations of further supply declines in...

Oil Climbs With U.S. Aid Hopes Brightening Consumption Outlook Bloomberg 1/14/2021 Andres Guerra Luz and Alex Longley (Bloomberg) -- Oil rose to a new 10-month high in New York on expectations that a potential $2 trillion economic relief packaged could get Americans consuming more fuel. U.S. benchmark crude futures advanced 1.3% on Thursday. President-elect Joe Biden’s advisers recently told allies in Congress about the cost of the package, CNN reported. A weaker dollar also boosted the appeal of commodities priced in the greenback. A stimulus package will be “putting di...

Oil Rally Held Back by Dollar Gains and Equity Sell-Off Bloomberg 1/11/2021 Andres Guerra Luz (Bloomberg) -- Oil closed little changed with a stronger U.S. dollar and broader market selloff sapping momentum from a recent rally. Futures in New York ended the session up 1 cent at the highest since February on Monday following a surge above $50 a barrel last week. Yet, crude did not manage to eke out a larger advance with U.S. equities dropping from records and dollar gains reducing the appeal of commodities like oil that are priced in the currency. With crude starting the year...

Oil Rally Held Back by Dollar Gains and Equity Sell-Off Bloomberg 1/11/2021 Andres Guerra Luz (Bloomberg) -- Oil closed little changed with a stronger U.S. dollar and broader market selloff sapping momentum from a recent rally. Futures in New York ended the session up 1 cent at the highest since February on Monday following a surge above $50 a barrel last week. Yet, crude did not manage to eke out a larger advance with U.S. equities dropping from records and dollar gains reducing the appeal of commodities like oil that are priced in the currency. With crude starting the year...

Oil closed little changed with a stronger U.S. dollar and broader market selloff sapping momentum from a recent rally.