Oil

Oil prices slipped on Monday after hitting more than two-and-a-half-year highs earlier in the session, as a spike in Covid-19 cases in Asia put a brake on rally before this week’s OPEC+ meeting. Brent dipped 10c, or 0.1%, to $76.08 a barrel at 9.11am GMT, after climbing to $76.60 its …

Oil prices climbed to their highest since October 2018 on Friday, putting both benchmarks up for a fifth week in a row on expectations that demand growth will outstrip supply and OPEC+ will be cautious in returning more crude to the market from August onwards. Global benchmark Brent futures rose …

Oil prices rose on Tuesday over bullish market sentiments of a sooner-than-expected demand rebound. International benchmark Brent crude was trading at $75.26 per barrel at 07.29 GMT for a 0.48% increase after closing Monday at $74.90 a barrel. American benchmark West Texas Intermediate (WTI) traded at $73.33 a barrel at …

The increasingly bullish sentiment in oil markets has several analysts to predict $100 in 2022, but some think that prices could hit that level in 2021 already Oil’s rally to above $70 a barrel has spurred talk of $100 oil—an unthinkable outlook at this time last year when economies and …

Iraqi expects oil prices to reach $80 per barrel, the country’s state news agency reported on Sunday, citing an oil ministry spokesman. The spokesperson, Asim Jihad, did not give a timeframe for the increase he predicted. Crude prices have been on the rise over the past weeks, settling over $70/barrel …

Oil is expected to rise further this year amid supply constraints and higher demand as global economies continue to rebound from the coronavirus pandemic on the back of vaccination programmes and stimulus measures. And when the global economy regains its pre-pandemic momentum in a couple of years, crude could rise …

Crude oil prices increased on Wednesday after an anticipated fall in US crude inventories, coupled with euphoria over rising oil demand and recovery signs of the world’s largest economies. International benchmark Brent crude was trading at $74.55 per barrel at 06.57 GMT for a 0.75% increase after closing Tuesday at …

Oil prices rose on Tuesday, with Brent gaining for a fourth consecutive session, as the prospect of extra supply coming to the market soon from Iran faded with talks dragging on over the United States rejoining a nuclear agreement with Tehran, Trend reports with reference to Reuters. Brent crude was …

Brent oil may rise into a range of $73.38-$73.80 per barrel, as it has broken a resistance at $72.71. The break is convincing, as it followed two corrections on June 9 and June 10. The break signals a continuation of the uptrend towards the range of $74.47-$75.55 range. Oil is …

Iraq, OPEC’s second-biggest oil producer, said crude prices will be in the range of $68 to $75 a barrel in the second half. The price range is expected because of a commitment to OPEC+ output cut, Iraq’s Oil Minister Ihsan Abdul Jabbar told reporters at the Baghdad International Book Fair. …