Oil stable as market awaits Fed

Oil prices rebounded by about 1% on Friday after a meeting between Saudi Arabia and Russia calmed markets amid strong China demand expectations, after a banking crisis sparked a sell-off in global financial and oil markets this week.

After two days of losses triggered by fears of a banking sector meltdown after the collapse of Silicon Valley Bank, oil prices rebounded early on Wednesday, pushed higher by increased Chinese refinery activity, estimated drawdowns in U.S. product

Oil prices were little changed on Tuesday after five sessions of gains, with weak oil data from top crude importer China balanced by concern over supply. Brent crude futures fell 22 cents, or 0.26%, to $85.96 a barrel

Crude oil prices gained slightly after the Energy Information Administration confirmed the API’s estimate of an inventory build for the week to February 25. Crude oil inventories added 1.2 million barrels in the reporting period, the EIA said, adding that

Oil prices rose on Monday amid optimism over China’s demand recovery, concerns that underinvestment will crimp future oil supply and as major producers keep output limits in place. Brent crude rose 70 cents, or 0.8%, to $83.70 a

Oil prices angled upward in early Asian trade on Thursday as the market shrugged off a giant U.S. crude inventory build and the International Energy Agency boosted its demand outlook. Brent crude futures LCOc1 rose 26 cents to $85.64 per

Oil prices were broadly steady on Thursday as the prospect of higher fuel demand in China as it reopens post-COVID curbs was offset by fears that U.S. crude stocks hitting their highest for months may signal weakening demand in the

Oil rose as a major oil pipeline was temporarily halted, while key producers flagged stronger Chinese demand just as more sanctions on Russian flows take effect. West Texas Intermediate climbed toward $74 a barrel after closing on Friday

Europa Oil & Gas, one of the three partners in the Wressle (PEDL 180/182) oil field in Lincolnshire, UK, on the Western margin of the Humber Basin, noted that a lot of positives can be seen in the

Oil prices settled 1% higher on Thursday, extending a recent rally built around rising Chinese demand, while the market wrote off a second straight week of large builds in U.S. crude inventories. Brent crude futures gained $1.18, or

Oil prices held near this year’s highs on Monday as easing COVID restrictions in China raised expectations for a demand recovery in the world’s top crude importer. Brent crude fell 38 cents, or 0.45%, to $84.90 a barrel

Oil prices climbed on Monday as the borders reopened in China, the world’s top crude importer, boosting the outlook for fuel demand growth and offsetting global recession concerns. Brent crude futures were up $1.49, or 1.9%, at $80.06

Oil prices held in a narrow range on Tuesday, though the outlook for demand was clouded by a weak manufacturing activity survey from China, and a warning from the head of the International Monetary Fund that the global

Oil prices rose 2% on Friday on expectations of a drop in Russian crude supply, which helped offset worries of a hit to U.S. transport fuel demand growth as a looming Arctic storm threatens travel during the holiday season. Brent