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  • Oil rises despite surprise US stock build weighs Feb 24, 2021 09:40 PM IST

    Oil rises despite surprise US stock build weighs

    As crude is priced in dollars, a weaker greenback makes buying the commodity cheaper for holders of other currencies.

  • Oil gains as US production slowly returns after freeze Feb 22, 2021 07:48 AM IST

    Oil gains as US production slowly returns after freeze

    Brent crude was up 76 cents, or 1.2%, at $61.67 a barrel by 0104 GMT, after gaining nearly 1% last week. U.S. oil rose 74 cents, or 1.3%, to $59.98 a barrel, having fallen 0.4% last week.

  • Output cuts by OPEC, COVID-19 main reasons behind fuel price hike: Oil Minister Dharmendra Pradhan Feb 21, 2021 06:28 PM IST

    Output cuts by OPEC, COVID-19 main reasons behind fuel price hike: Oil Minister Dharmendra Pradhan

    The crude prices have been going up in the international market since November 2020, with the Brent oil rate hovering above $60 over the past few days.

  • Oil prices extend gains as Texas cold snap cuts US output Feb 18, 2021 08:29 AM IST

    Oil prices extend gains as Texas cold snap cuts US output

    Brent crude climbed 93 cents, or 1.5%, to $65.27 a barrel by 0219 GMT, touching its highest since Jan. 20, 2020. U.S. West Texas Intermediate (WTI) crude futures gained 76 cents, or 1.2%, to $61.90 a barrel, registering its highest since Jan. 8, 2020.

  • Kuwait plans to shorten oil supply deals for some Asian buyers Feb 17, 2021 07:43 PM IST

    Kuwait plans to shorten oil supply deals for some Asian buyers

    The fourth-biggest producer in the Organization of the Petroleum Exporting Countries (OPEC) said it would assess the situation in over October and November before committing supplies for the first quarter of 2022, the sources said.

  • India urges OPEC+ to ease output cuts to rein in oil prices Feb 17, 2021 07:00 PM IST

    India urges OPEC+ to ease output cuts to rein in oil prices

    Dharmendra Pradhan said demand recovery should take "primacy" over oil prices, at least for next few months.

  • Oil hits 13-month highs as market rebalances Feb 15, 2021 09:25 PM IST

    Oil hits 13-month highs as market rebalances

    Russian Deputy Prime Minister Alexander Novak said the global oil market is on a recovery path and the oil price this year could average $45-$60 a barrel.

  • Oil hits 13-month highs on supply cuts, weak dollar Feb 09, 2021 08:42 PM IST

    Oil hits 13-month highs on supply cuts, weak dollar

    Top exporter Saudi Arabia is curbing supply in February and March, on top of cuts by producers in the Organization of the Petroleum Exporting Countries and their allies, prompting forecasts of a supply deficit this year.

  • Why the oil price rise is unsustainable Feb 09, 2021 09:44 AM IST

    Why the oil price rise is unsustainable

    The current rise in oil prices is a short-term blip. The longer-term trends depressing oil prices are intact

  • Brent strikes $60 per barrel as supply cuts, stimulus hopes boost prices Feb 08, 2021 01:19 PM IST

    Brent strikes $60 per barrel as supply cuts, stimulus hopes boost prices

    Brent crude for April touched an intraday high of $60.06 a barrel, the highest since January last year. The front-month contract was at $59.90 by 0728 GMT, up 56 cents, or 0.9%.

  • Oil hits highest in a year on growth hopes, OPEC+ cuts Feb 05, 2021 10:23 PM IST

    Oil hits highest in a year on growth hopes, OPEC+ cuts

    The last time it traded at $60 a barrel, the pandemic had yet to take hold, economies were open and people were free to travel, meaning demand for gasoline, diesel and jet fuel was much higher.

  • Oil prices near $60 on growth hopes and OPEC+ cuts Feb 05, 2021 04:31 PM IST

    Oil prices near $60 on growth hopes and OPEC+ cuts

    New orders for US-made goods rose more than expected in December, pointing to continued strength in manufacturing. The US Congress is also moving ahead on President Joe Biden's COVID-19 relief plan.

  • Oil prices rise to highest in a year on US growth optimism, crude supply restraint Feb 05, 2021 08:27 AM IST

    Oil prices rise to highest in a year on US growth optimism, crude supply restraint

    U.S. West Texas Intermediate (WTI) crude futures jumped 51 cents, or 0.9%, to $56.73 a barrel by 0210 GMT, after touching a high of $56.75, the most since Jan. 22 last year. The benchmark contract is on track for a weekly gain of nearly 9%, which would be its biggest weekly gain since October.

  • Oil climbs after OPEC+ maintains oil output cuts, US stock draw Feb 04, 2021 10:18 AM IST

    Oil climbs after OPEC+ maintains oil output cuts, US stock draw

    Brent crude futures gained 47 cents, or 0.8%, to $58.93 a barrel, by 0317 GMT, having earlier hit their highest since Feb. 21, 2020 in the wake of the OPEC+ decision.

  • OPEC+ sticks with oil policy as prices rise towards one-year high Feb 03, 2021 10:00 PM IST

    OPEC+ sticks with oil policy as prices rise towards one-year high

    Oil has rallied from historic lows hit last year as the pandemic hit demand, thanks to record output cuts by the Organization of the Petroleum Exporting Countries and allies, known as OPEC+.

  • OPEC experts meet as rising oil prices mask demand worries Feb 02, 2021 07:22 PM IST

    OPEC experts meet as rising oil prices mask demand worries

    Oil has rallied from historic lows reached last year as demand collapsed due to the pandemic thanks to record OPEC+ output cuts.

  • Oil treads warily higher amid patchy vaccine rollouts, new coronavirus variants Feb 01, 2021 08:14 AM IST

    Oil treads warily higher amid patchy vaccine rollouts, new coronavirus variants

    Brent crude futures were up 10 cents at $55.14 a barrel by 0233 GMT, while U.S. West Texas Intermediate (WTI) gained 1 cents to $52.21. Both benchmarks gained nearly 8% in January.

  • Oil falls on demand fears, strengthening dollar Jan 28, 2021 11:31 AM IST

    Oil falls on demand fears, strengthening dollar

    U.S. West Texas Intermediate (WTI) crude futures fell 33 cents, or 0.62%, to $52.52 a barrel at 0452 GMT, erasing Wednesday's gain.

  • Oil drops as new COVID cases in China trigger clampdowns Jan 22, 2021 07:57 AM IST

    Oil drops as new COVID cases in China trigger clampdowns

    U.S. West Texas Intermediate (WTI) crude futures dropped 47 cents, or 0.9%, to $52.66 a barrel at 0148 GMT, after slipping 18 cents on Thursday.

  • OPEC+ compliance with oil cuts at 99% in December, sources say Jan 21, 2021 09:22 PM IST

    OPEC+ compliance with oil cuts at 99% in December, sources say

    Technical and ministerial committee meetings of the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia are scheduled to take place in early February.

  • Oil rise on hopes of US stimulus and crude stocks drawdown Jan 20, 2021 11:35 AM IST

    Oil rise on hopes of US stimulus and crude stocks drawdown

    U.S. West Texas Intermediate (WTI) crude futures climbed 37 cents, or 0.7%, to $53.35 a barrel at 0427 GMT, building on a 1.2% rise on Tuesday.

  • Oil mixed as Chinese lockdowns raise demand questions Jan 15, 2021 08:21 AM IST

    Oil mixed as Chinese lockdowns raise demand questions

    Brent was down 3 cents at $56.69 by 0133 GMT, after gaining 0.6% on Thursday. U.S. West Texas Intermediate crude was up 12 cents at $53.69 a barrel, having risen more than 1% the previous session.

  • OPEC sees US shale output recovering further on oil rally Jan 14, 2021 07:30 PM IST

    OPEC sees US shale output recovering further on oil rally

    A significant rebound in shale could hamper efforts by OPEC and its allies, known as OPEC+, to support the market.

  • Oil prices dip on rise in virus cases; US stock draw checks losses Jan 14, 2021 07:26 AM IST

    Oil prices dip on rise in virus cases; US stock draw checks losses

    Brent crude oil futures dipped 5 cents, or 0.1%, to $56.01 a barrel by 0124 GMT, while U.S. West Texas Intermediate (WTI) fell by 1 cent to $52.90 a barrel.

  • Oil prices sapped by rising virus cases; anticipated drop in US inventory stems losses Jan 12, 2021 08:35 AM IST

    Oil prices sapped by rising virus cases; anticipated drop in US inventory stems losses

    After falling on Monday, Brent crude oil futures slipped by 9 cents, or 0.2%, to $55.57 a barrel by 0135 GMT while U.S. West Texas Intermediate (WTI) fell by 8 cents, or 0.2%, to $52.17 a barrel.

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