News Articles on {?keyword?} | ABS-CBN News

Oil climbs over 4 percent despite rise in US inventories

Stephanie Kelly, Reuters
Posted at Jul 22 12:39 PM

Oil prices rose more than 4 percent Wednesday, extending gains from the previous session as improved risk appetite provided support despite data showing an unexpected rise in US oil inventories. Read more »

Oil falls $2 after OPEC+ producers agree to raise output

Noah Browning, Reuters
Posted at Jul 19 06:23 PM

Oil prices fell sharply on Monday after OPEC+ overcame internal divisions and agreed to boost output, sparking concerns about a crude surplus as COVID-19 infections rise in many countries. Read more »

Oil prices extend losses on expected supply increase

Reuters
Posted at Jul 15 06:18 PM

Oil prices fell on Thursday, extending losses as investors braced for increased supplies after a compromise deal between leading OPEC producers and as U.S. fuel stocks rose, raising concerns over demand in the world's largest consumer. Read more »

Oil prices drop after Saudi-UAE reach output compromise

Reuters
Posted at Jul 14 08:05 PM

Oil prices dropped on Wednesday after Reuters reported that Saudi Arabia and the United Arab Emirates had reached a compromise over a global supply deal that will allow the UAE to boost its output.    Read more »

Oil prices slip amid worries COVID variants may derail recovery

Laila Kearney, Reuters
Posted at Jul 13 12:46 PM

Oil slumped over concerns about spreading COVID-19 variants derailing the global economic recovery that has brought fuel demand to near pre-pandemic levels.   Read more »

Oil prices slip as economic worries offset tightening supplies

Florence Tan, Reuters
Posted at Jul 12 01:31 PM

Crude futures slipped on Monday as concerns over slowing global growth outweighed the prospect of tightening supply after talks among key producers to raise output in coming months stalled. Read more »

Oil falls in volatile trade as investors seek OPEC clarity

Laila Kearney, Reuters
Posted at Jul 08 06:29 PM

Oil prices fell more than $1 a barrel on Wednesday in another seesaw trading session, as investors feared what this week's collapse in OPEC+ talks meant for worldwide production. Read more »

Oil drops sharply after OPEC cancels meeting

Laura Sanicola, Reuters
Updated as of Jul 07 03:16 PM

Oil prices tumbled on Tuesday in a volatile session after OPEC producers canceled a meeting when major players were unable to come to an agreement to increase supply. Read more »

Asian oil buyers fret over margin impact of canceled OPEC+ meeting

Reuters
Posted at Jul 06 08:20 PM

Crude oil buyers in Asia are concerned that an unexpected cancellation of an OPEC+ meeting to discuss a rise in output could drive oil prices even higher and hurt their margins.   Read more »

OPEC+ resumes oil policy talks amid Saudi-UAE standoff

Reuters
Posted at Jul 05 08:16 PM

OPEC+ ministers will look to salvage their oil output talks on Monday after clashing last week when the United Arab Emirates balked at a proposed eight-month extension to output curbs. Read more »

OPEC+ summit could lead to modest rise in oil output

Benoît Pelegrin, Agence France-Presse
Posted at Jul 01 01:15 PM

The OPEC+ group of oil-producing countries are to meet Thursday and are expected to agree to boost output in August to meet demand and limit recent price rises. Read more »

Oil steadies as OPEC fuels demand hopes amid new COVID-19 worries

Jessica Resnick-Ault, Reuters
Posted at Jun 30 02:34 PM

Oil prices steadied on Tuesday as broad hopes for a demand recovery persisted, fueled by comments from OPEC's secretary general, slightly overshadowing travel curbs due to new outbreaks of the highly contagious Delta variant of the coronavirus. Read more »

Oil falls 2 percent on rising COVID-19 cases, ahead of OPEC+ talks

Scott DiSavino, Reuters
Posted at Jun 29 12:41 PM

Oil prices fell 2 percent to a one-week low on Monday after hitting their highest since 2018 earlier in the session, as a spike in COVID-19 cases in Asia and Europe put a brake on the rally before this week's OPEC+ meeting. Read more »

Oil rallies on weaker dollar and Iran supply uncertainty

Jessica Resnick-Ault, Reuters
Posted at Jun 22 12:28 PM

Oil prices soared on Monday, gaining on a pause in talks to end US sanctions on Iranian crude, and as the dollar retreated from two-month highs. Read more »

Oil hits new high near $75 on demand rise, falling inventories

Alex Lawler, Reuters
Posted at Jun 16 08:54 PM

Oil gained for a fifth day on Wednesday, climbing towards $75 a barrel to its highest since April 2019, supported by a recovery in demand from the pandemic and a drop in US crude inventories.   Read more »

Oil rises as Iran supply not seen resuming soon

Aaron Sheldrick, Reuters
Posted at Jun 15 01:25 PM

Oil prices rose on Tuesday, with Brent gaining for a fourth consecutive session, as the prospect of extra supply coming to the market soon from Iran faded. Read more »

Oil rises as Iranian supply not seen returning soon

Stephanie Kelly, Reuters
Posted at Jun 09 09:34 AM

Oil prices rose on Tuesday, settling at the highest in more than two years after the top US diplomat said that even if the United States were to reach a nuclear deal with Iran, hundreds of US sanctions on Tehran would remain in place.   Read more »

Oil edges up as rising demand faces Iran supply worries

Scott DiSavino, Reuters
Updated as of May 26 12:36 PM

Oil prices moved a shade higher on Tuesday as rising demand from the approach of the Northern Hemisphere's summer driving season and lifting of coronavirus restrictions mixed with worries that Iran's possible return to the market will cause a supply glut. Read more »

Goldman sees oil hitting $80 despite likely return of Iran supply

Reuters
Posted at May 24 09:12 PM

Goldman Sachs said it expects oil prices to climb to $80 per barrel in the fourth quarter of this year, arguing that the market has underestimated a rebound in demand even with a possible resumption in Iranian supply. Read more »

Oil climbs on economic recovery hopes despite fresh Asian restrictions

Devika Krishna Kumar, Reuters
Updated as of May 18 10:54 AM

Oil prices rose more than 1 percent on Monday, lifted by European economic reopenings and rising US demand after prices fell earlier due to surging coronavirus cases in Asia and underwhelming Chinese manufacturing data.   Read more »