Oil prices fell again, with renewed fears that general isolation measures in Europe could slow an expected recovery in demand for fuel products. Brent fell 34 cents, equivalent to 0.5%, to $64.19 a barrel In Asian trading, US crude lost 21 cents, equivalent to 0.3%, to $61.21 a barrel. The …
Read More »Crude Oil Trying to Recover
Oil, Crude, trading
Read More »Oil Futures Settle Higher to Narrow Weekly Losses
Oil prices rose on Friday, supported by concerns about geopolitical risks in the Middle East impacting crude supplies, but could not recover its weekly losses, which are mostly due to worries about the recovery of the global demand. A resurgence in coronavirus cases in Europe, which resulted in another four-week …
Read More »U.S. Oil Rigs See Largest Increase since January
The number of active rigs drilling for crude oil and natural gas in the United States increased by nine rigs to 411 this week, weekly data by Baker Hughes showed on Friday. The increase in the rig count was entirely attributed to the increase in oil rigs to 318, while …
Read More »Oil Prices Rise on Demand Concerns, Vaccination Slowing Down
Oil prices increased by more than a dollar during the European session, after a major sell-off witnessed in the previous session, as a new wave of Coronavirus cases across Europe triggered general isolation measures and dampened hopes for an imminent oil demand recovery. Brent crude rose $ 1.01, or 1.6%, …
Read More »Oil Suffers Huge Losses And Negativity Persists
Oil, Crude, trading
Read More »European shares Drop on Lockdown Fears And Oil Decline
European stocks fell today, erasing a large part of its weekly gains, after France imposed new general isolation measures to curb the spread of the Corona virus, in light of indications of slowing vaccination in some countries. The pan-European STOXX 600 index fell 0.6%, tracing a negative session on Wall …
Read More »Oil Declining For The Sixth Consecutive Day Amid a Surge In Coronavirus Cases
Oil prices fell for the sixth consecutive day, declining by about 9% in the week, as a new bout of Covid-19 cases, especially in Europe, imposed new general restrictive measures and dampened hopes for an imminent oil’s demand recovery. US West Texas Intermediate crude fell four cents, or 0.07 percent, …
Read More »Oil Declining For The Fifth Consecutive Day After The Rise in US Inventories
Oil prices fell for the fifth consecutive day on Thursday, March 18th, after official data revealed a sustained increase in crude and fuel stocks in the United States, while the ongoing pandemic clouded the outlook for demand. Brent crude fell 37 cents, or 0.5%, to $ 67.63 a barrel, after …
Read More »Oil Declines as U.S. Inventories Rise and Supercycle Ruled Out
Oil prices declined on Wednesday amid continuous concerns about the recovery of global demand, as well as the fourth consecutive weekly rise in U.S. crude inventories. Brent crude futures for May delivery closed lower by about 0.6% at $67.98 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude futures for …
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