Front Month Nymex Crude for May delivery gained $3.81 per barrel, or 6.42% to $63.13 this week. --Largest one week net and percentage gain since the week ending March 5, 2021. --Up two of the past three weeks.
- In January, Occidental Petroleum announced it had accomplished something no oil company had done before: It sold a shipload of crude that it said was 100% carbon-neutral.
In January, Occidental Petroleum (OXY) announced it had accomplished something no oil company had done before: It sold a shipload of crude that it said was 100% carbon-neutral.
NEW YORKa -Oil settled modestly lower on Friday but secured a weekly gain on a stronger demand outlook and signs of economic recovery in China and the United States that offset concerns about rising COVID-19 infections in other major economies. Brent crude settled down 17 cents, or 0.3%, at $66.77 a barrel.
Front Month Nymex Crude for May delivery gained 31 cents per barrel, or 0.49% to $63.46 today. --Up for four consecutive sessions. --Up $4.14 or 6.98% over the last four sessions.
- Bankruptcies by North American oil producers rose to the highest first-quarter level since 2016, according to a report released on Thursday by law firm Haynes and Boone, as some energy firms struggled to recover from the 2020 crash in oil prices.
Bankruptcies by North American oil producers rose to the highest first-quarter level since 2016, according to a report released on Thursday by law firm Haynes and Boone, as some energy firms struggled to recover from the 2020 crash in oil prices.
Oil prices edged up to fresh four-week highs on Thursday on positive U.S. economic data and higher demand forecasts from the International Energy Agency and OPEC as countries start to recover from the COVID-19 pandemic.
Front Month Nymex Crude for May delivery gained $2.97 per barrel, or 4.94% to $63.15 today. --Largest one day dollar and percentage gain since Wednesday, March 24, 2021. --Up for three consecutive sessions.
* U.S. crude stockpiles fall as refiners ramp up output -EIA. * IEA ups oil demand forecast as vaccinations brighten outlook. * Slow vaccine rollouts globally still loom. By Stephanie Kelly.
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