Tag Archives: Oil

Oil prices reversed upwardly and continued achieving gains for the second session in light of the growing risk appetite, despite data showing a sudden increase in US crude stocks last week and a decrease in demand expectations due to the growing infection cases with the Covid-19 virus. Brent crude futures …

Oil prices fell after a sector report showed an unexpected increase in US crude stocks last week, stoking fears that a new surge in Covid-19 infections could reduce demand for fuel. Brent crude futures fell 36 cents, or 0.5 percent, to $ 68.98 a barrel at 0628 GMT, giving up …

Oil prices saw a modest increase on Friday but to failed to recovery its large weekly losses, the biggest in about two months, which are mostly due to uncertainty about a new production policy agreement by the OPEC+ alliance, despite recent reports suggesting extending the current deal until the end …

The number of active oil and natural gas rigs in the United States increased for the third consecutive week, for the first time since May, despite the recent drop in crude prices, data by Baker Hughes showed on Friday. The total rig count rose by five to 484 in the …

Oil prices rose on Friday but were still heading for their biggest weekly decline since at least May, as expectations of increased supplies spooked investors. Brent crude rose 37 cents, or 0.5%, to $73.84 a barrel, and is set to lose 2.3% this week, the biggest weekly decline since May. …

Oil prices fell Friday, July 16, heading for their biggest weekly drop since at least May. Expectations of an increase in supply raised investor concerns, as OPEC is likely to raise production in line with a possible recovery in demand as more countries recover from the Covid-19 pandemic. The price …

Oil, Crude, trading

Oil prices finished lower on Thursday, maintaining a downward trend for the second consecutive session, amid uncertainty about production levels. Yesterday, media reports suggested that the OPEC+ alliance has reached an initial agreement to extend the current output cuts until 2022, with a gradual easing in the curbs in line …

Oil, Crude, trading

Oil prices closed lower on Wednesday after news reports pointed to expectations of an agreement between major producers about output policy in the coming months. Sources reportedly told Bloomberg that the OPEC+ alliance is planning another meeting soon to close the deal, while other media reports said that an agreement …