Oil

Oil heads for biggest annual gains since 2009

MELBOURNE, Dec 31 (Reuters) - Oil prices slid on Friday but were set to post their biggest annual gains in 12 years, spurred by the global economic recovery from the…

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Oil prices mixed, U.S. crude falls after COVID-19 flight cancellations

SINGAPORE, Dec 27 (Reuters) - Oil prices were mixed on Monday, with Brent inching higher while U.S. crude futures slipped after airlines called off thousands of flights in the United…

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Global oil’s comeback year presages more strength in 2022

Global oil demand roared back in 2021 as the world began to recover from the coronavirus pandemic, and overall world consumption potentially could hit a new record in 2022 -…

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Oil prices ease in holiday trade, market focus on next OPEC+ move

TOKYO, Dec 24 (Reuters) - Brent crude futures snapped a three-day rally on Friday in light trade, with many investors away for the holidays, but the benchmark was still headed…

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Oil prices edge higher on optimism over Omicron impact

NEW DELHI, Dec 23 (Reuters) - Oil prices edged up on Thursday for a third consecutive session over positive developments around COVID-19, even as China imposed new travel curbs and…

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Oil prices steady as Omicron worries linger

Oil prices steadied on Tuesday after a sharp fall in the previous session as investors worried about the rapid spread of the Omicron coronavirus variant and the impact of renewed restrictions…

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Oil prices rise as U.S. fuel demand jumps despite virus surge

SINGAPORE, Dec 16 (Reuters) - Oil prices rose on Thursday as U.S. implied consumer petroleum demand surged to a record high in the world's top oil consumer even as the…

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Oil prices slip 1% on bets that crude supply growth will exceed demand

MELBOURNE, Dec 15 (Reuters) - Oil prices fell for a third day straight on Wednesday on growing expectations that supply growth will outpace demand growth next year, even though the…

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Omicron impact aside, oil supply set to top demand -IEA

A surge in COVID-19 cases and the emergence of the Omicron variant will dent global demand for oil, the International Energy Agency (IEA) said on Tuesday, but the broader picture is…

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Oil gains as investors see limited Omicron impact on demand

TOKYO, Dec 13 (Reuters) - Oil prices extended their rally on Monday as investor appetite improved amid growing relief the Omicron coronavirus variant may not cause severe illness and will…

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Oil adds to gains as worries over Omicron ease

MELBOURNE/BEIJING, Dec 9 (Reuters) - Oil prices rose on Thursday, extending gains into a fourth session on positive comments from vaccine makers about the Omicron variant, even as some governments…

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Oil prices ease as investors wait for assessment of Omicron’s impact

TOKYO, Dec 8 (Reuters) - Oil prices eased on Wednesday, taking a breather after two days of gains, as investors waited for an assessment of full impact of the Omicron…

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Oil prices rebound as concerns on Omicron impact ease

Oil prices extended gains on Tuesday from a near 5% rebound the day before as concerns about the impact of the Omicron coronavirus variant on global fuel demand eased while Iran…

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Global oil CEOs stress need for fossil fuels despite push for cleaner energy

A global energy conference devoted to future technologies and low-carbon strategies kicked off in Houston on Monday with top executives from energy companies affirming the need for more oil for decades to come. The…

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Oil rebounds more than $1/bbl after Saudi price hike

SINGAPORE, Dec 6 (Reuters) - Oil prices rose by more than $1 a barrel on Monday after top exporter Saudi Arabia raised prices for its crude sold to Asia and…

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Oil rises on OPEC+ plan to meet if Omicron hits fuel demand

MELBOURNE, Dec 3 (Reuters) - Oil prices climbed on Friday, extending gains after OPEC+ said it would review supply additions ahead of its next scheduled meeting if the Omicron variant…

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Oil rises as investors focus on OPEC+ decision amid growing Omicron fears

TOKYO, Dec 2 (Reuters) - Oil prices rose on Thursday, more than recouping the previous day's losses, as investors adjusted positions ahead of an OPEC+ decision over supply policy, but…

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OPEC+ starts two days of talks amid oil price gyrations, Omicron fears

LONDON, Dec 1 (Reuters) - OPEC and its allies begin two days of meetings on Wednesday to decide whether to release more oil into the market or restrain supply amid…

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Oil climbs over 2% ahead of OPEC meeting amid Omicron concerns

SINGAPORE, Dec 1 (Reuters) - Oil prices rose more than 2% on Wednesday, recouping some of the steep losses from the previous session, as major producers prepared to discuss how…

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Oil price down on jitters over vaccine efficacy

Oil prices tumbled more than 3% on Tuesday after Moderna's CEO cast doubt on the efficacy of COVID-19 vaccines against the Omicron coronavirus variant, spooking financial markets. The head of drugmaker…

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Investors cling to hope as Omicron spreads, shares rebound

A semblance of calm returned to world markets as investors waited for more details to assess the severity of the Omicron coronavirus variant on the world economy, allowing battered stocks…

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Oil skids on concerns of rising surplus in Q1

SINGAPORE, Nov 26 (Reuters) - Oil prices slid more than 1% on Friday on concerns that a global supply surplus could swell in the first quarter following a coordinated release…

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Oil slips, awaiting OPEC+ response to U.S.-led crude release

MELBOURNE/SINGAPORE, Nov 25 (Reuters) - Oil prices were little changed on Thursday with investors waiting to see how major producers respond to the emergency crude release by major consuming countries…

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EXPLAINER-What is happening with U.S. gasoline prices?

Nov 24 (Reuters) - The United States uses more gasoline than any other nation in the world, and lately Americans have grown concerned about the swift rise in costs at…

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Oil mixed, investors sceptical about effectiveness of joint reserve release

TOKYO, Nov 24 (Reuters) - Oil prices largely held gains Wednesday, with investors sceptical about the effectiveness of a U.S.-led coordinated release of stocks from strategic reserves and turning their…

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Oil price drops on growing talk of increased production despite faltering demand

Oil prices fell on Tuesday, reversing gains in the previous session, on growing talk the United States, Japan and India will release crude reserves to tame prices despite the threat of…

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Oil off 7-week lows but under pressure as release of reserves eyed

SINGAPORE, Nov 22 (Reuters) - Oil prices came off seven-week lows on Monday but remained under pressure after Japan said it was weighing releasing oil reserves and as the COVID-19…

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Oil rises as investors look past possible reserve releases

TOKYO, Nov 19 (Reuters) - Oil prices rose on Friday, after wild swings the day before, on investor concerns that potential coordinated releases by the world's major economies of their…

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Oil at 6-week low as China readies crude oil reserve release

TOKYO, Nov 18 (Reuters) - Oil prices slid to near six-week lows on Thursday as China said it was moving to release reserves following a Reuters report that the United…

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Oil falls as U.S. gasoline stock draw raises prospect of SPR release

Oil fell on Wednesday after an industry report showed U.S. gasoline stocks dropped more than expected last week, potentially heightening pressure on the Biden administration to release oil from emergency…

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Oil prices drop on higher dollar in volatile week

SINGAPORE, Nov 12 (Reuters) - Oil prices slipped on Friday, wiping out gains from the previous session, as the dollar continued to rise on bets the U.S. central bank will…

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Oil prices steady after falling on signs U.S. may release more reserves

SINGAPORE, Nov 11 (Reuters) - Oil prices were steady on Thursday after falling in the previous session on concerns rising inflation in the United States, spurred by climbing energy costs,…

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Oil drillers Noble and Maersk to merge

OSLO, Nov 10 (Reuters) - Denmark's Maersk Drilling and U.S. rival Noble Corporation said on Wednesday they will merge, forming one of the world's largest offshore oil drilling rig owners.…

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Oil prices rise on news of positive signs for global economic growth

Oil prices rose on Monday as positive signs for global economic growth supported the outlook for energy demand and the United States said it was weighing options to address high prices.…

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Oil gains after U.S. passes infrastructure bill, Chinese exports rise

Oil prices rose on Monday on the back of positive signs for global economic growth, supporting energy demand, while Saudi Arabia's state-owned producer Aramco raised the official selling price for…

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Oil gains around 1% after OPEC+ holds line on supply

TOKYO, Nov 5 (Reuters) - Oil prices rose around 1% on Friday, staging a partial recovery after OPEC+ producers rebuffed a U.S. call to raise supply and instead maintained plans…

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Oil slips as Iran nuclear talks set to resume

SINGAPORE, Nov 4 (Reuters) - Oil prices extended declines on Thursday after Iran and world powers agreed to resume nuclear talks this month that could lead to the removal of…

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Oil prices fall as data shows big build in U.S. inventory

SINGAPORE, Nov 3 (Reuters) - Oil prices fell on Wednesday as industry data pointed to a big build in crude oil and distillate stocks in the United States, the world's…

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Oil prices rise on slow OPEC output increase

Oil prices rose on Tuesday as key producer group OPEC undershot its expected pace of output increases last month, while the world's top oil consumer China ramped up operating rates to meet a…

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Oil drops on China fuel reserves release; OPEC+ meeting in view

TOKYO, Nov 1 (Reuters) - Oil prices dropped on Monday as China's release of gasoline and diesel reserves eased concerns over tight global supply, while investors cashed in ahead of…

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Singapore fuel oil imports from Malta at a three-year high

Singapore residual fuel oil inventories rose 0.5% in the week ended Oct. 27, marking four consecutive weeks of stock build-up, as weekly net import volumes dropped but were near the…

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Oil prices set for first weekly drop since August as supply concerns ease

Oil prices edged up on Friday but were headed for their first weekly losses in at least eight weeks after U.S. oil stocks rose more than expected and Iran flagged…

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Libya’s NOC says pipeline leak will need days of maintenance

TRIPOLI (Reuters) - A major leak in the pipeline running to Libya’s Es Sider terminal has led to the pipeline being shut down and it will require seven-10 days of…

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Oil falls to two-week low on U.S. inventory shock, COVID-19 case rise

TOKYO, Oct 28 (Reuters) - Oil prices slumped to their lowest in two weeks after official figures showed a surprise jump in U.S. inventories of crude, and rising cases of…

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Oil falls after increases in U.S. crude, fuel stockpiles

TOKYO, Oct 27 (Reuters) - Oil prices fell on Wednesday after industry data showed crude oil stockpiles rose more than expected and fuel inventories unexpectedly increased last week in the…

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Oil prices edge towards new highs on short supply

Oil prices edged towards new multi-year highs on Tuesday, supported by a global supply shortage and strong demand in the United States, the world's biggest consumer. Brent crude was flat at…

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Oil prices extend gains to multi-year highs on tight supply

Oil prices climbed on Monday, extending pre-weekend gains to hit multi-year highs as global supply remained tight amid solid fuel demand in the United States and elsewhere in the world…

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Why today’s economy can handle oil at $100 a barrel or higher

For all the angst caused by this year's 65% oil price leap, concerns about a return to 1970s-style stagflation are overblown and the developed world, at least, can probably handle…

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Oil prices drop; Brent on track for first weekly dip in seven

SINGAPORE, Oct 22 (Reuters) - Oil prices fell on Friday with Brent on track for its first weekly dip in seven weeks as demand for oil products in power generation…

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Oil mixed, but solid U.S. demand underpins sentiment, Prices could have further to rise – analyst

TOKYO, Oct 21 (Reuters) - Oil prices were mixed on Thursday, paring earlier gains, as some investors scooped up profits from the recent rally while solid demand in the United…

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Saudi Sept oil supplies to China up 2%, Russian volumes down 18%

Saudi Arabia, the world's biggest oil exporter, kept its ranking as China's top crude supplier for a 10th month in September, increasing its volumes by 2% from a year earlier,…

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Oil drops on China intervention to ease coal crunch

Oil prices slipped on Wednesday after the Chinese government stepped up efforts to tame record high coal prices and ensure coal mines operate at full capacity as Beijing moved to…

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Oil prices reverse earlier losses on China energy demand concerns

Oil prices rose on Tuesday, recouping earlier losses, as falling temperatures in China, the world's biggest energy consumer, revived concerns about its ability to meet heating demand needs amid power and…

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Oil rises on bigger-than-expected draw in U.S. fuel stocks

Oil prices climbed on Thursday, reversing previous losses, as a bigger-than-expected draw in U.S. gasoline and distillate stocks prompted buying. Prices were also buoyed by expectations that soaring natural gas…

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Oil prices unlikely to rise further, says Iraqi oil minister

Oil prices, which hit their highest in years recently, are unlikely to rise further, Iraqi Oil Minister Ihsan Abdul Jabbar told an energy conference in Moscow on Wednesday. Last week,…

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Oil falls on concerns of faltering economic growth to hit demand

Oil prices edged down on Wednesday on concerns that oil demand growth will fall as major economies suffer through inflation and supply chain issues though surging prices for power generation…

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Oil prices rise amid rebound in global demand

Oil prices reversed early losses to extend gains on Tuesday into a fourth day amid a rebound in global demand that is contributing to energy shortages in major economies. Brent crude…

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