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Oil, Crude, trading
Read More »Oil is Looking For a Clearer Direction
Oil Narrows Losses on US Inventory Data
Oil prices closed Thursday lower amid increased concerns for the second wave of the COVID-19 pandemic and its effect on the global demand recovery. Brent crude futures for December delivery decreased by 16 cents, or 0.4%, to settle at $43.16 per barrel. Meanwhile, the West Texas Intermediate (WTI) futures for …
Read More »US Oil Inventories Decline More than Expected
Crude oil inventories in the United States declined by 3.8 million barrels last week, according to data by the US Energy Information Administration (EIA) on Thursday. The decline exceeds that expected by market experts of around 2.3 million barrels, and it comes after an increase of 500,000 barrels in the …
Read More »Oil Falls as Corona Cases Threaten to Recover Demand
Oil prices plunged on Thursday, erasing earlier gains in the session, as a new spike in COVID-19 cases around the world reinforced concerns about economic growth and a recovery in fuel demand. European countries re-impose curfews and general isolation measures in light of the increase in new cases of Corona. …
Read More »Oil Continues to Gain
Oil, Crude, trading
Read More »Oil Maintains Rising Trend for Second Day
Oil prices maintained gains for the second consecutive session on Wednesday, amid commitment by OPEC+ leaders to output cuts. Brent futures for December delivery gained 87 cents, or 2.1%, to settle at $43.32 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude futures for November delivery finished higher by 84 …
Read More »Russian Energy Minister: OPEC + is Committed to Plans to Reduce Production Cuts
Oil prices fell on Wednesday after US President Donald Trump dampened hopes for a fourth stimulus package to support the economy affected by the Coronavirus pandemic, in addition to an more than expected increase in US crude stocks. US West Texas Intermediate crude futures were down 42 cents, or 1 …
Read More »Oil Prices Falling on Demand Concerns
Oil prices fell on Wednesday, due to fears that the continued decline in fuel demand in light of the high cases of Coronavirus in Europe and the United States, the largest consumer of crude in the world, may impede economic growth. The monthly report of the Organization of Petroleum Exporting …
Read More »Oil Renew Chances to Gain
Oil, Crude, trading
Read More »Oil Closes Higher on Hopes for Improved Demand Outlook
Oil prices finished higher on Tuesday supported by an increase in Chinese imports last month, which helped improve the outlook for global demand recovery. Brent crude futures for December delivery rose by 73 cents, or 1.8%, to settle at $42.45 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude futures …
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