Page 5 - Oil Market

Joe Biden to announce moratorium on oil and gas sales on public lands

Two people with knowledge of Biden's plans outlined the proposed moratorium, which will be announced Wednesday.

Oil prices fall for second session as Covid lockdown concerns cast pall

Brent crude futures for March fell 15 cents, or 0.3%, to $55.26, while U.S. West Texas Intermediate crude for March was at $52.19 a barrel, down 8 cents, or 0.2%

Oil falls on China's Covid-19 cases, fresh restrictions, high crude build

Brent crude futures declined 60 cents, or 1.1 per cent, to US$55.50 a barrel

Oil slips on surprise rise in US crude stocks, fuel fears of demand fall

U.S. West Texas Intermediate (WTI) crude futures fell 27 cents, or 0.5%, to $53.04 a barrel at 0147

Oil up 1% on stimulus hopes, tightening market ahead of Biden inauguration

Brent crude was up 53 cents, or 1%, at $56.43 a barrel

Oil prices drops 1% as rising coronavirus cases end supply-led rally

US oil was down by 43 cents, also nearly 1%, at $51.93 a barrel, having declined 2.3% in the previous trading session

Weak retail data, Covid-19 lockdowns weigh on stocks and oil; dollar rises

U.S. bond yields and stocks had risen recently partly on expectations about the rollout of coronavirus vaccines and on a massive stimulus plan

IEA says oil market outlook clouded by vaccine roll-out variables

LONDON (Reuters) - Oil producers face an unprecedented challenge to balance supply and demand as factors including the pace and response to COVID-19 vaccines cloud the outlook, an official with International Energy Agency (IEA) said on Wednesday.

Iraq devalues dinar to lower budget inflation as oil prices squeeze revenue

The devaluation decision came as a preemptive move to prevent "draining Iraq's foreign reserves" and help government to secure public servants' salaries, the bank said

Oil marketing companies continue to hold petrol, diesel price rise

OMCs have gone on a pause mode at a time when the news of successful coronavirus and expectations of big pick up in demand had kept crude on the boil with prices breaching $ 50 a barrel mark

Oil pulls back amid New York coronavirus curbs, gains for a 6th week

Brent futures settled down US28 cents, or 0.6% at $49.97 a barrel. The contract rose above $51 a barrel on Thursday to an early-March high

Back from the Covid abyss: Oil stages remarkable turnaround; back above $50

It's possible the market is getting ahead of itself though, with key technical indicators signaling benchmarks are overbought and U.S. inventories recently piling higher

Big Oil was already in decline; Covid-19 has been like an asteroid strike

The pandemic won't bring about the imminent demise of companies, but it will almost certainly hasten their metamorphosis.

Oil drops second day as surging coronavirus cases prompt demand worries

CEOs of the world's biggest trading companies are forecasting a weak recovery for oil demand and little movement in prices

Rosneft, Saudi Aramco unlikely to bid in BPCL privatisation: Report

A source said that Aramco has halted most of its investment plans into India due to the oil price crash and is unlikely to bid for BPCL

Oil market: Muddle of contradictions as traders size up prospects for 2020

As prices stick to a narrow range near $40 a barrel, some of the biggest commodity houses, including Vitol Group, Trafigura Group, and Mercuria Energy Group, have diverging views about what's next

Covid-19: Opec sees weaker outlook as demand falters, shale recovers

Oil prices slipped further below $40 a barrel in London on Monday, close to their lowest in more than two months

Saudi Arabia reduces oil prices in sign demand recovery struggling

Aramco cut Arab Light to Asia to a discount against the benchmark oil price used by the Saudis for the first time since June

One of the world's richest petrostates, Kuwait is running out of cash

Slow to adjust big-spending habits as oil revenues fall, the Gulf states are hurtling toward a moment of economic reckoning, prompting renewed debate over the future of nations

Govt eliminates cooking gas subsidy as Covid-19 turns oil market favourable

The government has completely eliminated the need to provide subsidy on domestic cooking gas as the global fall in oil prices has brought the price of the common man's fuel closer to market rates.