Brent hits $60 as supply cuts and stimulus hopes boost prices February 8, 2021 Oil prices rose on Monday to their highest in just over a year, with Brent nudging past $60 a barrel, boosted by supply cuts among key producers and hopes for further US economic stimulus measures that can boost demand. Brent was up 1.2 per cent, at $60.05 a barrel, and US standardWest Texas Intermediate rose [...]
Oil prices hit highest levels in a year as producers cut output February 2, 2021 Oil prices rose more than 2.5 per cent today to reach its highest since last February after major producers showed they were reining in output roughly in line with their commitments. Brent crude was up 2.5 per cent at $57.77 a barrel for its third straight day of gains and the highest levels in 12 [...]
Oil price slips on growing Covid-19 restrictions in China January 22, 2021 Oil prices fell today, weighed down by a build in US crude inventories and worries that new pandemic restrictions in China will curb fuel demand in the world's biggest oil importer
Before the Bell: Volatility remains low but Trump faces impeachment vote January 13, 2021 Stock markets had a relatively quiet session yesterday as there wasn’t any major news to influence sentiment in one way or another. European stocks lost ground as Covid-19 case numbers played on traders’ minds. Several governments have tight restrictions in place in a bid to get a handle on the virus – which is having [...]
Before the Bell: Equities and copper are on a roll January 8, 2021 Equity markets in Europe and the US enjoyed rallies yesterday as traders bought stocks on the back of the view that the future Biden administration will be keen to use stimulus packages to support the economy. In late December, lawmakers signed off on a $900bn relief package but in October, Nancy Pelosi, of the Democrats, [...]
Before the Bell: Bulls in control, calm restored to Capitol Hill January 7, 2021 The disturbance at Capitol Hill derailed the process of certifying the Biden electoral victory for a number of hours last night but was then resumed so the final confirmation of Biden’s win should be relatively straightforward. Moreover, the FTSE 100 had a stellar run yesterday as it closed up more than 3 per cent and [...]
Oil prices top $50 for the first time since pandemic declared December 10, 2020 Global oil prices today rose above $50 for the first time since the world went into lockdown back in March as traders welcomed the start of coronavirus vaccination programmes. Worldwide standard Brent Crude rose 3.5 per cent today to trade at $50.60, its highest levels since the first week of March. US benchmark West Texas [...]
Oil prices post weekly gain ahead of OPEC+ meeting November 27, 2020 By Stephanie Kelly NEW YORK (Reuters) – Oil prices were mixed on Friday but posted a fourth straight week of gains ahead of an OPEC+ meeting early next week. Brent crude January futures rose 38 cents to settle at $48.18 a barrel, while the more active February contract gained 46 cents to $48.25. U.S. West [...]
Before the bell: Volatility remains low post-Thanksgiving November 27, 2020 It was a subdued session yesterday as the US celebrated Thanksgiving and in turn the US stock market was closed. Dealers in the rest of the world largely sat on their hands while their US-based counterparts enjoyed their turkey. It was a quiet day in terms of news flow and there was little appetite for [...]
Before the bell: Calm day expected as US celebrates Thanksgiving November 26, 2020 Equity markets were relatively quiet yesterday as some dealers banked their profits from the ground that was gained earlier in the week. “The mood in the markets was assisted by the growing feeling that there will be a smooth had over of power from President Trump to President-elect, Joe Biden,” David Madden, market analyst at [...]