Energy News Results

  • Oil climbs nearly 5% on signs of increasing crude demand

    Oil prices surged almost 5% on Wednesday, after a report from the International Energy Agency, followed by U.S. inventory data boosted optimism about returning demand after the coronavirus lockdowns last year crushed fuel consumption. Brent crude futures rose $2.91, or 4.6%, to settle at $66.58 a barrel.

  • OPEC Sees Oil Demand Boosted by Stimulus and Vaccine Programs

    Some of the world's wealthiest nations are grappling with stubborn coronavirus rates, but a brightening outlook and historic stimulus packages will boost economic activity and oil demand this year, the Organization of the Petroleum Exporting Countries said Tuesday. In its closely watched monthly market report, OPEC increased its 2021 global oil demand forecast by 100,000 barrels a day and raised its forecast for global economic growth by 0.3 percentage points to 5.4%.

  • Front Month Nymex Crude Rose 0.80% to Settle at $60.18 -- Data Talk

    Front Month Nymex Crude for May delivery gained 48 cents per barrel, or 0.80% to $60.18 today. --Largest one day dollar and percentage gain since Tuesday, April 6, 2021. --Up for two consecutive sessions.

  • OPEC Sees Oil Demand Boosted by Stimulus and Vaccine Programs

    Some of the world's wealthiest nations are grappling with stubborn coronavirus rates, but a brightening outlook and historic stimulus packages will boost economic activity and oil demand this year, the Organization of the Petroleum Exporting Countries said Tuesday. In its closely-watched monthly market report, OPEC increased its 2021 global oil demand forecast by 100,000 barrels a day and raised its forecast for global economic growth by 0.3 percentage points to 5.4%.

  • Oil rises after robust China data but J&J vaccine pause weighs

    Oil prices settled higher Tuesday on strong Chinese import data, but the rally was capped by concerns that pauses on the Johnson & Johnson vaccine could delay economic recovery and limit oil demand growth. Brent crude oil futures settled up 39 cents, or 0.6%, at $63.67 a barrel, while U.S. crude oil futures gained 48 cents, or 0.8%, to $60.18 a barrel.

  • DiamondBack Energy raises production outlook as oil prices pick up

    DiamondBack Energy Inc (FANG) on Monday raised its full-year production outlook as the shale oil and gas producer accounted for its acquisition of rival QEP Resources and benefited from a recovery in crude prices.

  • Petrobras cuts crude sales to China as domestic fuel margins improve -outgoing CEO

    Brazil's Petroleo Brasileiro SA reduced crude exports to China in the first quarter of 2021 as local refining margins improved, Roberto Castello Branco told Reuters in his last interview before stepping down as chief executive officer.

  • Front Month Nymex Crude Rose 0.64% to Settle at $59.70 -- Data Talk

    Front Month Nymex Crude for May delivery gained 38 cents per barrel, or 0.64% to $59.70 today. --Snaps a two session losing streak. --Off 9.67% from its 52- week high of $66.09 hit Friday, March 5, 2021.

  • Oil rises on U.S. vaccine rollout, Middle East tension

    * U.S. at 22% vaccinated; other countries further behind. * Yemen's Houthis say they attacked Saudi Aramco facilities. * Crude prices remain rangebound. By Stephanie Kelly. Oil prices rose on Monday on optimism over the pace of coronavirus vaccinations in the United States and after the Yemen-based Houthi movement said it fired missiles on Saudi oil sites.

  • Commodities trader Trafigura launches carbon trading desk

    By Julia Payne. Trafigura has begun launching a carbon trading desk led by Hannah Hauman, the global commodities trading firm said on Friday, as part of its push to gain a foothold in the global energy transition. The Geneva-based firm set up a renewables and power division in 2019 to be a third core pillar alongside metals and oil trading.

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