Oil rises on supply shortage

Oil prices rose on Monday, after top exporters Saudi Arabia and Russia reaffirmed their commitment to extra voluntary oil supply cuts until the end of the year. Brent crude futures rose $1.03, or 1.21%, to $85.92

Oil gained 1% on Thursday to snap its three-day decline, as risk appetite returned to financial markets after the U.S. Federal Reserve kept benchmark interest rates on hold. Brent crude futures rose 82 cents, or 1%,

Oil prices rebounded in Asian trade on Tuesday, after a drop of more than 3% in the previous session, as worries over supply stirred by conflict in the Middle East offset dismal China data. December Brent

Oil prices rose about 2% on Wednesday, buoyed by worries about conflict in the Middle East, but gains were capped by higher U.S. crude inventories and gloomy economic prospects in Europe. Brent crude futures rose $2.06,

A Nairametrics review of global crude prices on Friday, October 20 revealed that Brent crude had hit $93 per barrel. On Friday morning at 5:46 AM (GMT +1), Brent crude was $93.31 per barrel, West Texas

Brent oil futures steadied above $90 a barrel on Monday after passing the threshold on Friday, as investors waited to see if the Israel-Hamas conflict draws in other countries. Brent futures were down 39 cents, or

Oil prices surged more than 2% on Monday as military clashes between Israel and the Palestinian Islamist group Hamas ignited fears of a wider conflict in the Middle East. Brent crude was up $2.28, or 2.7%,

Oil prices recovered to settle slightly higher on Tuesday after sinking to three-week lows, pressured by a stronger US dollar and darkening global economic signals but supported by tightening crude supply. Brent crude oil futures settled 21 cents higher

JPMorgan on the rising oil price, say that Brent could continue to $150 / bbl citing Echo Energy plc (LON:ECHO) is a full cycle, exploration led, oil and gas focused AIM-listed E&P with an exciting asset

Oil prices rose for a third straight session on Monday, buoyed by forecasts of a widening supply deficit in the fourth quarter after Saudi Arabia and Russia extended cuts and on optimism of a demand recovery

Oil prices edged higher on Wednesday, hovering at a new 10-month high hit the previous day, as expectations of tighter global supply and fears of supply disruption in Libya outweighed concerns of slower demand in some

Oil prices rose a dollar a barrel on Tuesday to their highest since November, after Saudi Arabia and Russia extended their voluntary supply cuts to the end of the year, worrying investors about potential shortages during peak winter

Oil prices edged higher on Thursday as prospects of further supply cuts offset weak economic data from China. Brent, the benchmark for two thirds of the world’s oil, was trading 0.15 per cent higher at $85.99 a

Oil prices steadied after earlier declines on Thursday caused by disappointing economic data from key economies, with investors awaiting a speech by U.S. Federal Reserve Chair Jerome Powell on Friday for clues on interest rate moves.

From a UBS note, in summary. Analysts at the Gloabl Wealth management arm do not expect recent price falls to persist, in light of the oil market’s firming fundamentals: Echo Energy plc (LON:ECHO) is a full

Some analysts predict oil prices will breach $100 a barrel before the year is out, and a weaker kiwi dollar will worsen the pain at the pump. Petrol prices are shaping up as the newest headache for consumers