Brent oil nears $80 a barrel amid supply constraints

  • 📰 TimesLIVE
  • ⏱ Reading Time:
  • 16 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 59%

South Africa Headlines News

Oil prices rose for a fifth straight day on Monday with Brent at its highest since October 2018 and heading for $80 amid supply concerns, as demand picks up in parts of the world with the easing of pandemic restrictions

Brent crude was up 92 cents or 1.2% at $79.01 a barrel, having posted three straight weeks of gains. US Oil added 82 cents, or 1.1%, to $74.80, near its highest since July, after rising for a fifth straight week last week.

“While we have long held a bullish oil view, the current global supply-demand deficit is larger than we expected, with the recovery in global demand from the Delta impact even faster than our above-consensus forecast and with global supply remaining short of our below consensus forecasts,” Goldman said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 28. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Supply worries support oilPrices rise for a fifth consecutive day, with Brent heading for $80 amid supply concerns To all those Bitcoiner’s working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick with her lisamiaBTC Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success. Words alone won’t express how thankful I’m recommending you all to you shantelll_142 .....,investing with you has been a good opportunity for me and my family I just received my profit of R60,000 within five days of investment shantelll_142 I saw several people testifying of making so much money with the help of shantelll_142 on Bitcoin option trade and I decided to give a try and now I'm glad now she helped me and my colleagues to make R60,000 in one week, thank you for transparency and trust.
Source: BDliveSA - 🏆 12. / 63 Read more »

Water supply in Gauteng and North West restored after veld fireRand Water back at full capacity after a power outage resulted in a 60% production loss at its Zuikerbosch treatment works I entrusted Dennismayson7 with my money since I took rush of investing my money with he platform, and since then I've recovered all I lost to scams. Get in touch with Dennismayson7 and get a good mentorship and safe trading.
Source: BDliveSA - 🏆 12. / 63 Read more »

Supply chain blockages delay delivery of Apple’s new iPhonesThe increased lead time is also an indicator of robust demand for upgrades, says analyst
Source: BDliveSA - 🏆 12. / 63 Read more »

Water supply in Gauteng and North West restored after veld fireRand Water back at full capacity after a power outage resulted in a 60% production loss at its Zuikerbosch treatment works I entrusted Dennismayson7 with my money since I took rush of investing my money with he platform, and since then I've recovered all I lost to scams. Get in touch with Dennismayson7 and get a good mentorship and safe trading.
Source: BDliveSA - 🏆 12. / 63 Read more »

Some Apple, Tesla suppliers suspend output in China amid power pinchTighter energy consumption policies are putting supply chains at risk in the peak season for electronics goods
Source: BDliveSA - 🏆 12. / 63 Read more »

Power supply to Rand Water's Zuikerbosch treatment plant restored, says EskomThe outage was due to a trip caused by the veld fire at the Snowden substation, which supplies Rand Water's Zuikerbosch Water Treatment.
Source: TheCitizen_News - 🏆 6. / 75 Read more »