USCommodity Brent Oil Fund LP ETF News

Brent crude futures rose by more than $8, touching a peak of $113.02 a barrel, the highest since June 2014, before easing to $111.53, up by $6.56 or 6.3% by 0950 GMT

Brent crude futures rose by as much as $8. The post Ukraine: Oil hits $113 a barrel, highest since 2014 appeared first on Premium Times Nigeria .

Oil is rallying hard on the Russia-Ukraine crisis. However, it's not only oil that has been getting a boost from the crisis. The disruptive metals industry is following the suit.

Oil Surges Into ''Super-Backwardation'' After OPEC+ Sticks To Production Plan, Shuns Biden''s Demands In what one observer called "the fastest one yet" - the meeting lasted just 13 minutes, beating last month’s record for brevity - OPEC+ 23-nation coalition led by Saudi Arabia ratified an increase of 400,000 barrels a day on Wednesday, continuing the gradual restoration of output halted during the pandemic, according to delegate sources. This was merely ratifying the plan - as expected - and notably gives no deference to President Biden''s urgings for the cartel to raise production to rescue his approval ratings at home. The quota breakdown is as follows: Source: @Amena_Bakr Have tried twice yesterday to send headlines around the world of a 60mm barrel release from global strategic reserves, and now OPEC+ not helping, oil prices are re-extending gains this morning with WTI back above $110… Additionally, this has all sent WTI and Brent time-spreads into what is being called ''super-backwardation'' as WTI M1-M6 spreads explode to record highs suggesting the tightness of current oil markets is becoming extreme...

LONDON — Oil prices surged on Wednesday as supply disruptions mounted following sanctions on Russian banks amid the intensifying Ukraine conflict, while traders scrambled to seek alternative oil sources in an already tight market. Brent crude futures rose by more than $8, touching a peak of $113.02 a barrel, the highest since June 2014, before easing to $111.53, up by $6.56 or […] The post Oil prices blast past $110 as supply fears mount appeared first on Inquirer Business .

The price for May 2022 futures contracts for Brent oil increased 5.83% on London’s ICE, to $111.09 per barrel as of 05:46 Moscow time on Wednesday. The last time Brent crude price exceeded $111 per barrel in July 2014. The post Price for Brent oil exceeds $111.09 per barrel appeared first on IPE Club .

U.S. futures rose with European stocks after the Kremlin said Russia is ready to resume talks with Ukraine tonight. Brent topped US$110.

Barrel of Brent crude moves past $111, while petrol at UK forecourts hit 151.67p on Tuesday

LONDON, March 2 (Reuters) - Soaring Brent crude oil prices are tracking the same path as in 2007-08, when they hit a record $150 a barrel before demand destruction kicked in and prices crashed in a global recession, analysis by Mitsubishi UFJ Financial…

Risk Off mood returned as stock markets dived and safe havens from the USD to US Treasuries rallied. Oil & GOLD markets surged, Brent hit $110/barrel

The main source of unease on trading floors is crude, which has rocketed since Russia began preparing to invade. On Wednesday Brent topped $110 for the first time since 2014 and WTI followed suit hours later to hit a 2013 high.

Brent crude climbed above $113 while West Texas Intermediate also surpassed $111, its highest level since August 2013.

By Han Tan, Chief Market Analyst at Exinity Group Brent crude oil futures have broken above $110 for the first time since 2014 as OPEC+ prepares to discuss its production plans for April. The virtual OPEC+ meeting on Wednesday will be dominated by concerns over the threat of Russia’s oil exports being hit with sanctions. Restrictions on banking transactions already mean around 70% of Russia’s oil exports are finding no buyers. OPEC+ is caught between Russia’s military attacks in the Ukraine, and the looming prospects of more sanctions from the West that specifically target Russia’s oil. Although it is widely The post OPEC+ eyes gradual stance amid Ukraine crisis appeared first on Financial Mirror .

Russian Urals crude has collapsed by $6.805/b day on day, further breaking its lowest ever discount to Brent as the pressure from international sanctions takes it toll on the crude''s value. One Urals Baltic loading cargo was offered by Trafigura on CFR Rotterdam basis, loading March 14-16 at Dated Brent minus $18.60/b in the Platts Market on Close assessment process…

U.S. benchmark crude oil prices jumped 10.6% to $105.82 per barrel, reaching the highest price since 2014. Brent crude, the international standard, surged 9% to $106.82.