By Natalie Grover LONDON (Reuters) – Oil prices were little changed on Tuesday as traders weighed supply cuts by the world’s biggest oil exporters and hopes for higher demand in the developing world in the second half of 2023 against a sluggish global economic outlook. Brent crude futures were up 2 cents to $77.71 a barrel […]

By Aaron Sheldrick TOKYO (Reuters) – Oil prices were steady on Tuesday, holding around one-week highs after jumping more than 3% the previous session as investors tempered expectations of an early return of oil exporter Iran to international crude markets. Brent crude futures were down 1 cent at $68.45 a barrel by 0701 GMT, having jumped […]

(Reuters) – Barclays (LON:BARC) raised its 2021 oil price forecast on Thursday, citing weaker than expected supply response from U.S. producers to higher prices and normalizing inventories after last week’s cold storm in Texas. The bank increased its 2021 Brent crude oil price outlook by $7 to $62 per barrel and West Texas Intermediate (WTI) […]

By Jennifer Hiller HOUSTON (Reuters) – The U.S. deep freeze will wreak havoc on oil and gas production for several days if not weeks, according to industry experts, as companies deal with frozen equipment and a lack of power to run operations. Texas produces more oil and natural gas than any other U.S. state, and […]

By Sonali Paul and Seng Li Peng MELBOURNE/SINGAPORE (Reuters) – Oil prices fell on Tuesday amid concerns over fuel demand as the peak U.S. driving season drew to a close and the U.S. Labor Day long weekend added to worries over rising coronavirus cases in more U.S. states. Coronavirus cases rose in 22 of the […]

By Florence Tan SINGAPORE (Reuters) – Oil futures dropped on Friday, with prices on both sides of the Atlantic heading for their biggest weekly declines since June, as lacklustre demand and ample fuel supplies offset support from a weaker dollar. Brent crude (LCOc1) fell 33 cents, or, 0.8% to $43.74 a barrel by 0630 GMT. […]

By Shu Zhang and Sonali Paul SINGAPORE/MELBOURNE (Reuters) – Oil prices were hovering around multi-week lows on Thursday as worries about falling U.S. gasoline demand and sluggish economic recovery from the COVID-19 pandemic dented sentiment. U.S. West Texas Intermediate (WTI) crude (CLc1) futures were up 4 cents, or 0.10%, at $41.55 a barrel by 0626 […]

By Yuka Obayashi TOKYO (Reuters) – Crude oil futures extended gains on Wednesday after a bigger-than-expected draw in U.S. crude stockpiles and as solid U.S. and Chinese factory activity fuelled optimism of a recovery from the coronavirus pandemic, boosting investor risk appetite. Brent crude (LCOc1) futures rose 45 cents to $46.03 a barrel as of […]

By Sonali Paul MELBOURNE (Reuters) – A slump in energy prices that has led to the deferral of liquefied natural gas (LNG) projects around the world is set to be an unexpected boon for some producers trying to kickstart new ventures in gas-rich western Australia. Offshore and onshore projects led by Woodside (OTC:WOPEY) Petroleum (AX:WPL), […]

DUBAI (Reuters) – Saudi Arabian state oil giant Aramco (SE:2222) on Tuesday reported a 25% fall in first-quarter net profit, below analyst estimates, hurt by lower crude oil prices as the coronavirus slashed demand. Brent crude prices fell 65% in the first quarter, before OPEC+ producers agreed to cut oil supply by a record 9.7 […]