Vitol CEO Russell Hardy said oil prices will be heading towards a range of $ 45- $ 49 a barrel or even $ 50 in the next few months, with inventory drawdown modest during the winter and this accelerating through mid-2021. The benchmark Brent crude was trading at around $ …
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Oil prices fell on Tuesday, November 10 as concerns about short-term fuel demand in Europe and the United States, affected by the Coronavirus, chased the market after an overnight rally led by encouraging news about a vaccine for Covid-19. US West Texas Intermediate crude futures fell 55 cents, or about …
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Oil, Crude, trading
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Oil prices rose on Monday, supported by an improved outlook for demand recovery after it was reported that a vaccine against the Coronavirus is showing success, as announced by Pfizer earlier today. Brent crude futures for January delivery surged by $2.95, or 7.5%, to settle at $42.40 per barrel. This …
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Oil prices gained more than 2% on Monday, November 9, while Brent crude futures rose above $ 40 a barrel, after Joe Biden won the US presidency and boosted risk appetite, offsetting concerns about the impact of the worsening coronavirus pandemic on demand. Brent crude futures for January delivery rose …
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Oil, Crude, trading
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Oil prices declined on Friday, with growing concerns about the new wave of the Coronavirus pandemic. New lockdown and preventive measures announced by some countries are raising concerns about the recovery of the global demand for energy. Brent crude futures for January delivery declined by $1.48, or 3.6%, to finish …
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Oil and natural gas rigs in the United States increased for the eighth consecutive week, according to Friday’s weekly report by Baker Hughes. This is the first time that oil rigs increased at this rate since June 2018, amid output cuts and price fluctuations. Oil and gas rigs rose by …
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US oil fell more than 2% on Friday, as new lockdown measures in Europe to stem the rise in Covid-19 cases fueled concerns about the outlook for demand, while markets remain in a state of tension due to the long-running US election counting. West Texas Intermediate crude fell $ 1.06, …
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Oil, Crude, trading
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