LONDON—Oil prices steadied on Friday near a two-month high of $77.50 a barrel and were headed for a third straight week of gains, supported by global output disruptions and inventory draws. The rally was slightly dampened by China’s first public sale of state crude reserves. Brent crude was up 222 cents, or 0.28 percent, at…
Oil Heads for Third Week of Gains as Output Stumbles
September 24, 2021
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Oil Prices Rise on Tight Supply, Renewed Risk Appetite
September 23, 2021
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LONDON—Oil prices extended gains on Thursday, riding higher on growing fuel demand and a bigger-than-expected draw in U.S. crude inventories as production remains hampered in the Gulf of Mexico after two hurricanes. Brent crude rose 9 cents, or 0.1 percent, to $76.28 a barrel at 0856 GMT. U.S. West Texas Intermediate (WTI) crude was up…
Oil Prices Rise on Expected US Stocks Draw
September 22, 2021
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LONDON—Oil prices climbed more than $1 on Wednesday, extending overnight gains after industry data showed U.S. crude stocks fell more than expected last week in the wake of two hurricanes, highlighting tight supply as demand improves. Prices were also supported as some OPEC members struggle to raise output and by a general sense of energy…
Oil Rises 1 Percent as US Storm Aftermath Tightens Supply
September 21, 2021
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TOKYO—Oil prices rose on Tuesday as analysts pointed to signs of U.S. supply tightness, ending days of losses as global markets remain haunted by the potential impact on China’s economy of a crisis at heavily indebted property group China Evergrande. Brent crude gained 95 cents or 1.3 percent to $74.87 a barrel by 0645 GMT,…
Oil Giant Shell Sets Sights on Sustainable Aviation Fuel Take-Off
LONDON—Royal Dutch Shell plans to start producing low-carbon jet fuel at scale by 2025, in an attempt to encourage the world’s airlines to reduce greenhouse gas emissions. Aviation, accounting for 3 percent of the world’s carbon emissions, is considered one of the toughest sectors to tackle due to a lack of alternative technologies to jet…
Oil Holds Above $75 as Storm-Hit US Supply Returns Slowly
September 17, 2021
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LONDON—Brent oil futures dipped on Friday but held above $75 a barrel, remaining on track for weekly gains of more than 3 percent thanks to the slow recovery in output after two hurricanes in the U.S. Gulf of Mexico. Brent crude futures fell 27 cents, or 0.36 percent, to $75.40 a barrel by 0838 GMT,…
Oil Holds Above $75 as US Inventory Drop Supports
LONDON—Oil slipped but held above $75 a barrel on Thursday, within sight of a near seven-week high hit a day earlier, supported by a big drop in U.S. crude inventories and expectations of recovering global demand. U.S. crude inventories fell by 6.4 million barrels last week, more than analysts expected, as oil facilities offshore were…
Oil Prices Climb After Drawdown in Stocks, Positive Demand Outlook
SINGAPORE—Oil prices climbed on Wednesday after industry data showed a larger than expected drawdown in crude oil stocks in the United States, the world’s largest oil consumer, and on expectations that demand will recover as vaccine roll-outs widen. But a fall in China’s crude oil throughput in August with daily refinery runs hitting the lowest…
Oil at One-Week High as US Supply Concerns Dominate
LONDON—Oil rose more than 1 percent on Monday, supported by concerns over shut output in the United States because of damage from Hurricane Ida, with analysts expecting prices to remain rangebound in a stable market over the coming months. Brent crude rose 90 cents, or 1.2 percent, to $73.82 a barrel by 1049 GMT and…
Oil, Banks Lift European Stocks on Recovery Bets
European stocks rose on Monday, with oil, banks and utility shares driving gains as investors hoped that a strong euro zone economic recovery would outweigh risks from a global slowdown. The pan-European STOXX 600 index was up 0.4 percent after hitting a three-week low last week. Asian stocks, however, fell following news of fresh regulatory…
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