Brent oil price Archives - Panorama Insurance Brokers

Brent jumps above $70 for first time since pandemic struck as Saudi refineries come under attack

(Reuters) – Brent crude futures jumped above $70 a barrel on Monday for the first time since the COVID-19 pandemic began, while U.S. crude touched its highest in more than two years, following reports of attacks on Saudi Arabian oil facilities. Brent crude futures LCOc1 for May reached $71.16 a barrel in early Asian trade and were at $70.76… Read More

Brent crude climbs above $40 as Biden’s win buoys risk-taking

(Reuters) – Oil prices rose more than 2% on Monday, with Brent futures topping $40 a barrel, after Joe Biden clinched the U.S. presidency and buoyed risk appetites, offsetting worries about the impact on demand from the worsening coronavirus pandemic. Brent crude futures for January climbed 94 cents, or 2.4%, to $40.39 a barrel by 0710… Read More

Oil prices decline as EIA reports first weekly U.S. crude-stock climb in 7 weeks

(MarketWatch) Oil prices declined on Thursday after U.S. government data revealed a weekly climb in U.S. crude inventories, on the heels of six consecutive weeks of declines, raising expectations of an oversupplied market as uncertainty continues to surround the outlook for demand. The Energy Information Administration reported Thursday that U.S. crude inventories rose by 2… Read More

Goldman Sachs boosts 2021 oil forecast, recommends Brent as an ‘effective’ hedge against uncertainty for investors

(Business Insider) Goldman Sachs expects the oil market to gain momentum in 2021 as the coronavirus-induced slump in demand is mitigated by the “rising likelihood of widely available vaccines” next spring. Analysts at the bank forecast international benchmark Brent will rally to $65 per barrel from $45 per barrel by the third quarter of 2021… Read More

Brent outlook for 2020 stands at $42.35 as Guyana expected to lift 2 million more barrels

New oil producer Guyana is expected to lift 2 million barrels more of Liza crude this year, representing the country’s share of 5 million barrels; 3 million of which have already been exported. Oil production got underway in the South American country in December 2019, the eve of a year when the world was rocked… Read More