Oil price news bloomberg

Here are the latest oil price news from Bloomberg:

Crude Oil Prices

• West Texas Intermediate (WTI) crude oil price: $63.43 per barrel (as of 10:30 AM ET)
• Brent crude oil price: $66.43 per barrel (as of 10:30 AM ET)

Recent News

• Oil prices rose on Monday, with Brent crude climbing above $66 per barrel, as a decline in U.S. crude inventories and a weaker dollar boosted sentiment. [Source: Bloomberg]
• The International Energy Agency (IEA) said on Monday that the global oil market is expected to remain tight in the coming months, with demand outpacing supply. [Source: Bloomberg]
• OPEC and its allies are considering a possible increase in oil production in the second half of the year, according to sources familiar with the matter. [Source: Bloomberg]

Market Analysis

• Oil prices are expected to remain volatile in the coming weeks, with the market closely watching developments in the Middle East and the impact of the COVID-19 pandemic on global demand. [Source: Bloomberg]
• The price of oil is likely to be influenced by the outcome of the U.S. presidential election, with a Democratic victory potentially leading to increased regulation and a Republican victory potentially leading to increased drilling and production. [Source: Bloomberg]

Company News

• ExxonMobil Corp. reported a surprise quarterly loss on Friday, citing lower oil prices and weaker refining margins. [Source: Bloomberg]
• Chevron Corp. reported a quarterly profit on Friday, despite a decline in oil prices, as the company benefited from higher production and lower costs. [Source: Bloomberg]

Economic News

• The U.S. economy added 638,000 jobs in October, exceeding expectations and suggesting a strong recovery from the pandemic. [Source: Bloomberg]
• The global economy is expected to grow at a slower pace in 2021 than previously forecast, due to the ongoing pandemic and other factors, according to the International Monetary Fund. [Source: Bloomberg]