LONDON Oil prices jumped more than 2% on Friday, hitting their highest in nearly 14 months after OPEC and its allies agreed not to increase supply in April as they await a more substantial recovery in demand. | Video
LONDON A four-month rally in the oil futures price from below $40 a barrel to above $60 now is out of step with demand, analysts and traders say, with physical sales only expected to match supply later in 2021.
LISBON The global oil market is rebalancing after damage to demand wrought by the COVID-19 pandemic was met with curbs on output by producers from the Organization of the Petroleum Exporting Countries (OPEC), the group's president said on Tuesday.
LONDON/SINGAPORE/MOSCOW Sales of physical crude oil are gaining pace at higher prices following a rally in the futures market, traders and analysts said, as expectations mount of near-term increases in demand.
LONDON Oil prices soared to their highest in about 13 months on Monday as vaccine rollouts promised to revive demand and producers kept supply reined in. | Video
LONDON Residents of Maceio have filed a lawsuit in a Dutch court against Brazilian petrochemicals company Braskem SA over cracks and sinking ground near salt mines in the Brazilian city, their legal representatives said on Monday.
LONDON The market for Brent and U.S. crude has moved deeper into backwardation encouraging traders to draw down on supplies as producers keep a tight rein on output and hopes rise of a recovery in oil demand with the rollout of coronavirus vaccines.
LONDON Optimism for a recovery in oil demand as COVID-19 vaccines are rolled out while producers rein in supply has pushed the market structure for Brent and U.S. crude into the deepest backwardation since the start of the pandemic.
LONDON Optimism for a recovery in oil demand as COVID-19 vaccines are rolled out while producers rein in supply has pushed the market structure for Brent and U.S. crude into the deepest backwardation since the start of the pandemic.
LONDON Global oil supply still outstrips demand due to persistent COVID-19 lockdowns and the spread of variants, the International Energy Agency (IEA) said on Thursday, but vaccines should help demand recover and soon enable producers to pump more.
Myanmar security forces used tear gas and stun grenades to break up a protest in Yangon on Saturday, just hours after a United Nations special envoy called on the Security Council to take action against the ruling junta for the killings of protesters.