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Tag Archives: Oil prices

Oil Prices Falls Ahead of OPEC+ Meeting

Oil prices plunged on Wednesday ahead of OPEC+ meeting as the ongoing pandemic continues to suppress the outlook for oil demand. Japan, the world’s fourth-biggest crude buyer, reported another fall in crude oil imports in July. Pressuring prices further was a large build in gasoline inventories which offset a modest …

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Crude Oil Prices Fall Amid Uncertainties Over Stimulus Package

Oil prices dropped on Tuesday amid uncertainties surrounding a further stimulus in the US and ongoing tensions between Beijing and Washington. President Donald Trump announced a further tightening of restrictions on Huawei Monday as he seeks to limit the Chinese telecommunications giant’s access to commercially available chips from US companies. …

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Brent Crude Heads for 2nd Week of Gains

Brent crude futures traded around $44.8 per barrel on Friday, heading for a gain of about 1% this week, as oversupply concerns eased on the back of US data showing crude oil, gasoline and distillate inventories all fell last week amid higher production and fuel demand. Meanwhile, the gains were …

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Brent Crude Prices Drop on Thursday

Brent crude prices traded lower at $45.2 per barrel on Thursday after an OPEC’s monthly report indicated that world oil demand will likely fall more steeply in 2020 than previously expected due to the pandemic. At the same time, uncertainty over whether US lawmakers would strike an agreement on a …

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Oil Prices Up by 52% as U.S. Inventories Drop

Oil prices moved higher on Wednesday after an industry report showed that U.S. inventories of crude fell more than analysts expected, bolstering hopes that fuel demand in the world’s biggest economy can weather the coronavirus pandemic. Brent crude was up 52 cents, or 1.2%, at $45.02 a barrel by 0648 …

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Oil Prices Gain Ground on Tuesday

WTI crude futures traded 0.3% higher above $42.0 per barrel on Tuesday helped by expectations of US stimulus as lawmakers continued negotiations on the coronavirus relief economic package after talks between Democrats and the White House collapsed last week without a deal. Prices were also supported by news on Sunday …

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Oil Hovers at 5-Month High

Oil prices were little changed at 5-month highs on Thursday, as investors weighed a resurgence in COVID-19 infections in some places around the globe that could slow a recovery in fuel demand against a fall in the US dollar and the prospect of a fresh stimulus in the US. WTI …

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Oil Prices Rise as Inventories Decline

Oil prices rose on Wednesday, with WTI futures trading near $41.7 a barrel and Brent crude around $44.5 a barrel boosted by hopes for a fresh US stimulus package and a massive decline in crude oil inventories. Latest API data showed a draw in crude oil inventories of 8.6 million …

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Oil Prices Fall on Demand, Oversupply Concerns

WTI crude futures traded lower at $41.0 per barrel on Tuesday, as investors fear that a fresh wave of COVID-19 infections around the world could hamper the global economic recovery and fuel demand. Already, cities from Manila to Melbourne have announced a reversal of the latest reopening efforts to combat …

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