Brent futures settled US17 cents, or 0.4%, higher at $41.94 a barrel, while U.S. West Texas Intermediate (WTI) crude gained 38 cents, or 1.0%, to end at $40.31. (File pic: A Chevron refinery in the US – Reuters) NEW YORK: Oil prices were steady on Thursday as a new wave of coronavirus cases in Europe…
Crude oil prices dropped at Thursday’s trading session. This slide is attributed to recent poor E.U. economic data, and a lower-than-expected U.S. gasoline demand. Fears of a second wave of COVID-19 in emerged economies also weakened investors’ enthusiasm. What we know: Brent oil futures fell 0.57% to $41.53 by (6:40 AM GMT) and WTI futures…
24 Sept. 2020-Crude oil prices reversed their decline today after the Energy Information Administration reported an oil inventory draw of 1.6 million barrels for the week to September 18. This compares with a draw of 4.4 million barrels for the previous week. The report came a day after the American Petroleum Institute propped prices up…
24 Sept. 2020-U.S. crude stocks, gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday.Crude inventories fell by 1.6 million barrels in the week to Sept. 18 to 494.4 million barrels, compared with analysts’ expectations in a Reuters poll for a 2.3 million-barrel drop. Crude stocks at the Cushing, Oklahoma, delivery…
23 Sept. 2020-MELBOURNE: Oil rose in early trade on Tuesday, paring sharp overnight losses, as the latest tropical storm in the Gulf of Mexico lost strength, but worries about fuel demand persisted with flare-ups around the globe in coronavirus cases. U.S. West Texas Intermediate (WTI) crude futures for October, due to expire on Tuesday, rose…
23 Sept. 2020-Oil prices recovered on Tuesday in a “nervous” market attentive to the demand for black gold, which could be seriously affected by possible new confinements.Around 9:35 AM GMT (11:35 AM in Brussels), a barrel of North Sea Brent for delivery in November was worth $41.99 (€35,76) in London, up 1.33% compared to the…
Oil futures fell Monday, sending U.S. prices down by more than 4%, on expectations Libyan crude will soon return to the market, while worries over a rise in European COVID-19 cases and a global equity market selloff added to the negative tone.“Oil prices are lower on turmoil, whether it be from mother nature or politics,”…
Oil prices plunged about 5 per cent on Monday, weakening as rising coronavirus cases stoked worries about global demand, and a potential return of Libyan production bolstered oversupply fears. Crude oil followed other equities and commodities markets in turning risk-averse on Monday as rising Covid-19 infection rates in Europe and other countries prompted renewed lockdown…
The warning from Prince Abdulaziz bin Salman, Energy Minister in Saudi Arabia that he is going to whoever tries to play games with the oil market will pay the price, might not be taken seriously with the fading worldwide demand, as we head into another likely COVID-19 wave, indicate that the oil might be at…
Oil prices ended their downward trajectory that started early September and recorded their biggest weekly gain in three months. The rebound came despite plenty of bearishness in the market that was emphasized by the monthly oil reports from both OPEC and the International Energy Agency (IEA). However, OPEC’s latest reassurances to its commitment to balance…
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