Oil prices jump more than 1%

Oil prices rose Monday during Asian trading hours. U.S. crude was up 1.16% at $64.32 a barrel while global benchmark Brent was up 1.11% to $67.18.

Last week, both contracts registered weekly losses amid concerns of more Iranian oil hitting the market. Iran’s president reportedly said the U.S. was ready to lift sanctions on his country’s oil, banking and shipping sectors.

Investors appear to be upbeat about fuel demand recovery in the U.S. and Europe as countries emerge from lockdowns and more vaccinated individuals plan their travels over the summer.

PetroNeft Resources plc (LON:PTR) is an international oil and gas exploration and production company, focussed on Russia. The company’s shares are listed on the London AIM and Dublin ESM Markets.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn

More articles like this

Oil prices climb as demand outlook improves

Oil prices rose on Monday, extending three weeks of gains that have been underpinned by an improved outlook for fuel demand as increased COVID-19 vaccinations help lift travel curbs, along with tightness in supply. A continued recovery in

”We’ll see $200 oil”

After in recent months crude oil prices have clearly recovered from their COVID-19 slump on steadily increasing demand, Russian Deputy Prime Minister Alexander Novak addressed the much-anticipated decision-making at the upcoming OPEC+ conference set for August and the

Oil nears $70 a barrel

Oil prices firmed on Monday, with Brent trading near $70 a barrel on growing optimism that fuel demand will grow in the next quarter, while investors looked ahead to see how producers will respond at this week’s OPEC+

Oil climbs 1% today

Oil prices rose more than 1% on Monday, lifted by European economic reopenings and rising U.S. demand after prices fell earlier due to surging coronavirus cases in Asia and underwhelming Chinese manufacturing data. Brent crude ended the session

Oil settles higher

Oil prices settled higher on Monday after a major U.S. fuel pipeline said it could largely restart within the week after a cyberattack forced its shutdown. Potential U.S. demand growth boosted crude prices, offsetting fears that a resurgent