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Oil, Crude, trading
Read More »Oil: Negative Pressure is in Place
Oil Resumes Losses amid Demand Outlook Worries
Oil prices declined on Thursday, amid renewed concerns about demand recovery amid a resurgence of the Coronavirus pandemic with a third wave and lockdown measures in Europe. Losses come one day following the rise of oil futures due to supply disruption caused by an incident that affected flows through the …
Read More »Oil Declining as Demand Concerns Outweigh The Disruption of Suez Canal
Oil prices have fallen by more than 2% as the new general isolation measures aimed at combating the Coronavirus have revived concerns about the demand for oil products, even as boats face difficulties to float a stranded container ship that blocks the route of crude oil tankers in the Suez …
Read More »Oil Trying to Recover And The Positivity Needs Confirmation
Oil, Crude, trading
Read More »Oil Surges 6% amid Concerns about Supply Flows
Oil prices surged and closed higher on Wednesday, a day following entering into the correction territory, after an incident in Egypt’s Suez Canal led to concerns about the flow of global crude supplies. Oil stockpiles in the United States rose last week by 1.9 million, the U.S. Energy Information Administration …
Read More »Oil Prices Rebound by About 3% After a Container Ship Stranded in The Egyptian Suez Canal
Oil prices rose in today’s trading by about 3% after a container ship ran aground in the Egyptian Suez Canal and other ships accumulated inside the canal. Brent crude prices rose by about 3% to $62.7 a barrel, and Texas crude prices rose by more than 3% to about $59 …
Read More »Oil Continues to Suffer Losses
Oil, Crude, trading
Read More »Oil Extends Losses to More than 6%
Oil prices dropped on Tuesday and entered into a correction wave amid selling pressures and concerns about the outlook for the recovery of the global demand. A third wave of the Coronavirus pandemic and imposing new lockdown measures in Europe are diminishing hopes of a quick economic recovery and a …
Read More »Oil Prices Drop 4% amid Concerns about European Lockdowns
Oil prices continued to decline on Tuesday, posting huge losses in early trades during the American session. Concerns about renewed lockdowns in Europe, especially France and Germany, are negatively impacting the outlook for demand recovery. Last Saturday, France announced a major four-week lockdown to combat the spread of the virus, …
Read More »Barclays Bank Raises Its Forecast For Oil Prices as Major Producers Are Cautious
Barclays raised its forecast for oil prices this year at $4 a barrel, indicating that major producers are cautious about oversupply as demand recovers gradually from the recession caused by the pandemic. The bank now expects a price for Brent crude at $66 a barrel and for US West Texas …
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