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Oil rises over 1% on hopes demand will rebound from coronavirus effect

Oil rises over 1% on hopes demand will rebound from coronavirus effect

NEW YORK (Reuters) - Oil prices rose over 1% on Friday, posting their first weekly gain since early January as investors bet the economic impact of the coronavirus would be short-lived and hoped for further Chinese central bank stimulus to tackle any slowdown. Brent crude LCOc1 rose 98 cents, or 1.74%, to settle at $57.32 a barrel. It rose 5.23% since

Oil rises nearly 1% on hopes demand will rebound from coronavirus effect

Oil rises nearly 1% on hopes demand will rebound from coronavirus effect

NEW YORK (Reuters) - Oil prices rose on Friday, on track for their first weekly gain since early January as investors bet the economic impact of the coronavirus would be short-lived and hoped for further Chinese central bank stimulus to tackle any slowdown. Brent crude LCOc1 rose 50 cents, or 0.9%, to $56.84 a barrel by 1:05 p.m. EST (1805 GMT). It

Oil rises 1% on hopes demand will rebound from coronavirus effect

Oil rises 1% on hopes demand will rebound from coronavirus effect

NEW YORK (Reuters) - Oil prices rose on Friday, on track for their first weekly gain since early January as investors bet the economic impact of the coronavirus would be short-lived and hoped for further Chinese central bank stimulus to tackle any slowdown. Brent crude LCOc1 rose 82 cents, or 1.5%, to $57.16 a barrel by 11:43 a.m. EST (1643 GMT). It

Oil prices rise more than 1%, on course for weekly gain

Oil prices rise more than 1%, on course for weekly gain

LONDON (Reuters) - Oil prices rose on Friday and were on track for their first weekly gain since early January as investors bet the economic impact of the coronavirus would be short-lived and hoped for further Chinese central bank stimulus to tackle any slowdown. Brent crude LCOc1 was up 78 cents or 1.4% at $57.12 a barrel by 1158 GMT. It has risen

Oil prices rise 1%, on course for weekly gain

Oil prices rise 1%, on course for weekly gain

LONDON (Reuters) - Oil prices rose on Friday and held on track for their first weekly gain since early January as investors bet the economic impact of the coronavirus would be short-lived and hoped for further Chinese central bank stimulus to tackle any slowdown. Brent crude LCOc1 was up 57 cents or 1% at $56.91 a barrel by 1024 GMT. It has risen 4

Oil prices steady, on course for weekly gain

Oil prices steady, on course for weekly gain

LONDON/SINGAPORE (Reuters) - Oil prices edged up Friday and held on track for their first weekly gain since early January, backed by expectations that major producers will implement deeper output cuts to offset slowing demand in China caused by the coronavirus epidemic. Brent crude LCOc1 was up 6 cents or 0.1% at $56.40 a barrel by 0911 GMT, and has

Oil prices stabilize, set for weekly gain on hopes for supply cut

Oil prices stabilize, set for weekly gain on hopes for supply cut

SINGAPORE (Reuters) - Oil prices were steady on Friday, but set for their first weekly gain in six weeks on the assumption that major producers will implement deeper output cuts to offset slowing demand in China caused by the coronavirus epidemic. Brent crude futures LCOc1 were 1 cent higher at $56.35 a barrel by 0439 GMT, after gaining 1% the previous

Oil prices steady but set for weekly gain on supply cut optimism

Oil prices steady but set for weekly gain on supply cut optimism

SINGAPORE (Reuters) - Oil prices were steady on Friday but are set for their first weekly gain in six weeks on the assumption major producers will implement deeper output cuts to offset slowing demand in China, the world’s second-largest crude user. Brent crude futures LCOc1 fell 9 cents to $56.25 a barrel by 0234 GMT, after gaining 1% the previous

Oil prices climb on prospects for deeper OPEC+ output cuts

Oil prices climb on prospects for deeper OPEC+ output cuts

NEW YORK (Reuters) - Oil prices edged higher on Thursday, as investors hoped the world’s biggest producers would cut output more, while they largely shrugged off forecasts of slumping demand due to the coronavirus outbreak in top oil importer China. Brent crude LCOc1 was up 58 cents, or 1.04%, at $56.37 a barrel by 12:20 p.m. ET, while U.S. West Texas

Oil prices climb on hopes of deeper OPEC+ production cuts

Oil prices climb on hopes of deeper OPEC+ production cuts

NEW YORK (Reuters) - Oil prices edged higher on Thursday as investors focused on the possibility of deeper supply cuts from the world’s biggest producers, whilst largely shrugging off reports which cut demand forecasts after the coronavirus outbreak in China, the biggest oil importer. Brent crude LCOc1 was up 32 cents, or 0.6%, at $56.11 a barrel by