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 …
Read More »Oil Prices Are Rising Due to The Return of Supplies
Oil prices rose on Tuesday, after suffering losses of nearly 3% in the previous session, with the resumption of supplies in Norway and the Gulf of Mexico in the United States and Libya, while the International Energy Agency expected a decrease in global energy demand by 5% this year. US …
Read More »Oil Re-Test support With an Attempt to Rise
Oil, Crude, trading
Read More »Oil Prices Decline as End of Norway Strike Looms
Oil prices declined on Monday as news circulated that a large strike in Norway will be ended and no longer affecting crude production capacities, however, losses were limited due to output disruptions resulting from Hurricane Delta. Brent crude futures for December delivery decreased by 49 cents, or 1.1%, to finish …
Read More »Oil Prices Drop 1% as US Companies Resume Production
Oil prices fell 1% for the second consecutive session Monday, as US producers began to resume work after Hurricane Delta and the end of a workers’ strike that affected production in Norway. Brent crude for December delivery fell 41 cents to $ 42.44 a barrel, and U.S. West Texas Intermediate …
Read More »Oil Awaits The Bullish Scenario
Oil, Crude, trading
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