Oil prices extended their losses for the third session Thursday, April 22nd, as a sudden increase in US crude stocks and a new spike in Covid-19 cases in India and Japan fueled concerns about the global economic recovery and that demand for fuel may falter. Brent crude futures were down …
Read More »Oil Breaks Support And Eyes on Inventory Data
Oil, Crude, trading
Read More »Oil Settles at Lowest Level in a Week
Oil prices declined on Wednesday to their lowest level in a week, due to concerns about the rising number of coronavirus cases and the potential slowing of demand recovery amid a third wave of the pandemic. Brent crude futures for June delivery declined by $1.25, or 1.9%, to close at …
Read More »Oil Prices Decline, The Increase in Covid-19 Cases in India Weakens Demand Forecast
Oil prices fell for a second day Wednesday, April 21, under pressure from fears that the rise in Covid-19 injuries in India will push demand for crude to fall in the third largest oil importer in the world. The price of Brent crude futures for June delivery fell 29 cents, …
Read More »Oil Breaks Support And Eyes on Inventory Data
Oil, Crude, trading
Read More »U.S. Oil Stockpiles Rise 436,000 B in Week
Crude oil inventories in the United States are estimated to have increased by 436,000 barrels last week, according to data by the American Petroleum Institute (API) released on Tuesday. Gasoline stockpiles declined by 1.6 million barrels, while distillate inventories increased by 655,000 barrels, for the week ended April 16. Official …
Read More »Oil Declines on Fears about COVID-19 and U.S. Antitrust Regulations
Oil prices declined on Tuesday, as concerns about a new wave of the coronavirus pandemic resurfaced, following a large increase in new cases. Furthermore, the United States Congress is discussing a law that could allow suing the Organization of the Petroleum Exporting Countries (OPEC) on antitrust grounds due to their …
Read More »Oil Prices at Their Peak in More Than a Month Thanks to The Weak Dollar
Oil prices rose to the highest level in more than Tuesday, April 20, as the decline in the US dollar supported commodities and due to expectations of a decline in crude stocks in the United States, the largest consumer of fuel in the world, but the increase in Coronavirus cases …
Read More »Crude Oil Tends to be Temporary Negative
Oil, Crude, trading
Read More »Oil Closes Higher amid Supply Disruptions
Oil prices finished higher on Monday, due to supply disruptions in Libya and expectations for a recovery in the global demand. Brent Crude futures for May increased by 24 cents, or 0.36%, to $67.01 per barrel. Meanwhile, the May West Texas Intermediate (WTI) crude futures gained 25 cents, or 0.4%, …
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