Oil markets are finally ready to recover

Oil prices rose on Wednesday as a more-than-expected decrease in US crude oil inventories and a decline in coronavirus cases in China, the world’s second-largest consumer, relieved investor fears over a fall in demand. International benchmark

Oil prices rose on Wednesday, adding to solid gains overnight, on expectations the incoming U.S. administration will go ahead with massive stimulus spending that would boost fuel demand and draw down crude stocks. U.S. West Texas

Oil in New York climbed to a new 10-month high as the dollar declined, increasing the appeal of commodities priced in the currency. Futures rose 1.5% to above $53 a barrel, to the highest since February

As the availability of COVID-19 vaccines continues to grow, industry leaders say it could turn things around for the oil and gas sector. The latest forecast report from Deloitte says there will be a return to “higher demand”

Oil prices inched up on Tuesday as tension around Iran’s seizure of a South Korean vessel simmered and after it emerged that the OPEC+ group is studying a possible production cut in February, according to a

Global commodities trader Trafigura has completed the purchase via a wholly-owned subsidiary of a 10% stake in Rosneft’s Vostok Oil project in the Arctic, the company said on Wednesday. “The acquisition is majority financed by long-term

Crude prices were lower this morning but the longer term recovery from earlier low points remains in place. Both Brent crude, which is used in more than half of all international contracts, and West Texas Intermediate (WTI) were down on

Commodity trading giant Trafigura expects a strong rebound in oil demand next year thanks to mass vaccinations, which will push crude oil prices to $55-60 a barrel, Argus Media reported, citing the company’s chief economist Saad

Trafigura, one of a clutch of privately held oil trading firms, reminded the world last week how good it is to be an oil trader when oil markets are imploding.  Thanks to its ability to buy

Oil rose on Friday, adding to sharp gains overnight that saw Brent top $50 for the first time since March, as the rollout of coronavirus vaccination programmes fed hopes that demand for fuel would rebound up

Oil prices jumped around 2% on Friday, heading for a fifth week of gains, as major producers agreed on a compromise to continue some cuts to production to cope with coronavirus-hit demand even though these fell