Crude Oil

The price of crude oil, which is subject to many other factors, has risen following the surge in gas prices, but not as sharply.

Fears about the much more contagious variant have rattled world markets as it forces some governments to reimpose containment measures

Crude prices rallied on Tuesday, with some analysts saying the worries over the hit to demand from the Delta variant have been overstated.

China has also been confronted with a worsening resurgence of Covid-19.

Both the Dow and S&P 500 finished lower, retreating from records, while the tech-rich Nasdaq edged to a second straight record.

The April 2022 deadline on capping output now seems too close, and some members want to extend it until December 2022

OPEC said its meeting would reconvene on Monday at the cartel's Vienna headquarters.

Since April 2020, millions of barrels of crude oil have intentionally been left untapped

OPEC has remained optimistic in its predictions for 2021, expecting demand to reach 96.5 million bpd, an increase of six million on 2020 levels.

Only earlier this month oil prices struck a 14-month high -- returning to pre-pandemic levels -- on reopening optimism.

Stocks prices of oil companies and airlines, which could lose the crucial summer travel season in Europe if cases continue to rise, suffered.

Crude oil prices have picked up by 25 percent since the beginning of the month and have returned to roughly their pre-pandemic levels.

The easing of restrictions was providing a much-needed boost to oil markets.

Equities were broadly lower Tuesday, though they were fluctuating throughout early business.

New York Governor Andrew Cuomo said that a first stage of a reopening would start on May 15 if hospitalisations decrease.

Investors are keeping an eye on Washington, where Congress and the White House are working towards a $450 billion economic relief plan.

The pandemic has now claimed more than 94,000 lives around the world.

Attention this week will be on a planned meeting of OPEC and other key crude producers.

On currency markets the dollar fell back against high-yielding, riskier units after surging Monday.

The explosions come just weeks after two of Saudi Arabia's biggest oil installations were hit

China and Turkey are standing-up to U.S. demands they stop importing Iranian oil.

There seems to be enough market evidence to indicate $80 oil by the summer.

The International Energy Agency still doesn't see growth stopping.

Big Oil had a good year in 2018, helped mostly by higher oil prices.

The surprise declaration could make Qatar the first Middle East nation to leave the cartel since its founding in 1960.

As the rhetoric from the United States gets harsher and oil prices remain weak, Iran is finding some respite by selling larger amounts of crude oil to China and India.

The OPEC oil ministers began arriving in Vienna on Tuesday ahead of their official meeting Friday, which will also include discussions with Russia.

Mohammed Sanusi Barkindo urges American oil producers to reduce production in a bid to prop up crude oil prices.

Brent and WTI contracts hammered as fears of crude supply glut escalate.

US President's plan to sell half of his country's crude oil reserves fails to unnerve Opec members.