Oil Prices Rise

Oil prices rebounded on Thursday after tumbling in the previous session as a weaker dollar brought back some appetite for risk assets and the OPEC+ decision

Lavrov said the cap was irrelevant, the strongest hint yet of a possible softening. With such a generous cap, buyers and sellers can easily claim it's just business as usual

"Oil is finding support on investor optimism that OPEC+ will deliver further cuts in production when they meet," said Ehsan Khoman, analyst at MUFG Bank, in a report

Brent crude rose 37 cents, or 0.4%, to $87.82 by 0915 GMT. U.S. West Texas Intermediate (WTI) crude was up 46 cents, or 0.6%, at $80.50

Brent crude futures rose 52 cents, or 0.6%, to $89.84 a barrel by 1027 GMT and U.S. crude futures rose by 52 cents, or 0.6%, to $82.67

Prices also drew support from analyst expectations of possible supply cuts from the Organization of the Petroleum Exporting Countries and allies (OPEC+)

Analysts believe further sell offs in oil markets could see OPEC+ intervene to support prices by collectively reducing their output

Russia, the world's second-largest oil producer and a key OPEC+ member, does not support a production cut at this time and the producer group is likely to decide to keep output steady

Oil prices climbed on Friday on bets that OPEC+ will discuss output cuts at a meeting on Sept. 5, but the benchmarks were still on track to post their worst weekly drop

Oil prices rose as much as $1 on signs of improving fuel demand, although further gains were capped as the market awaited clues from the US Federal Reserve chairman

Oil prices edged higher in early trade on Friday, extending a rally into a third day, as investors weighed hopes for strong fuel demand after a larger-than-expected drawdown in US crude stocks.

Oil prices rose, recovering from 6-month lows, as a larger-than-expected drop in US oil and gasoline stocks reminded investors that demand remains firm, if overshadowed by recession prospects.

(Reuters) -Oil prices rose on Thursday as supply concerns triggered a rebound from multi-month lows plumbed in the previous session after U.S. data signalled weak fuel demand.

MUMBAI (Reuters) - India's soyoil imports in July more than doubled from a month ago to a record high as refiners ramped up purchases to take advantage of New Delhi's move to allow duty free imports of the vegetable oil to calm all-time high prices, five dealers said.

Brent crude futures for September climbed 68 cents, or 0.7%, to $100.25 a barrel by 0400 GMT after settling below $100 for the second straight session on Wednesday

India's petrol and diesel sales soared in May on the back of a surge in summer travel to escape from the heat and vacation at educational institutions, preliminary industry data showed

LONDON (Reuters) -Oil prices rose on Wednesday, buoyed by tight supplies and the prospect of rising demand from the summer driving season in the United States, the world's biggest crude consumer.

MUMBAI (Reuters) -India's palm oil imports could drop by nearly a fifth as now cheaper soyoil takes more market share, following Indonesia's curbs on palm oil exports and New Delhi allowing duty-free imports of soyoil, dealers said.

NEW YORK (Reuters) - Oil prices rebounded from earlier losses in another volatile session on Thursday as Chinese officials planned to ease restrictions in Shanghai, which could further tighten global energy supply, and as the dollar retreated from recent gains.

HOUSTON (Reuters) -Oil prices reversed course and fell over 2% on Wednesday after government data showed U.S. refiners ramped up output, easing worries of a supply crunch, and as traders took cues from a drop in equities market.