Tag Archives: Oil prices

WTI crude futures traded 1% lower at $39.8 per barrel on Monday amid oversupply concerns, as OPEC and its allies are due to start reducing production cuts this month. US shale producers are seen boosting output in coming weeks due to a recovery in oil prices from record lows. At …

Oil prices increased on Friday, recovering from a 3-week low in the prior session, amid hopes for more stimulus in the US after official data showed the economy collapsed at a 32.9% annualized rate in Q2, the deepest fall in output since the government started keeping records in 1947. Investors …

Oil prices rose on Wednesday after industry data showed that crude inventories in the US unexpectedly fell by 6.8 million barrels last week to 531 million barrels. GSentiment was also supported by news that Britain has signed a supply deal for up to 60 million doses of the COVID-19 vaccine …

Oil prices were mixed on Tuesday, as investors weighed a weakening of the dollar that makes crude cheaper for global buyers as well as the prospect of further support from governments and central bankers to prop up their economies from the COVID-19 crisis against a resurgence of virus cases in …

Oil prices were flat on Monday, as investors continued to watch the latest development regarding the COVID-19 pandemic. Globally, there were over 16 million people being infected by the virus, with the US accounting for roughly 20% of that figure. Market participants were also looking for any impact from storm …

WTI futures swung between gains and losses on Friday, trading around $41 a barrel and Brent crude around $43.3 a barrel amid rising tensions between the US and China, a spike in coronavirus infections and concerns about the strength of the American recovery. Beijing ordered Washington to close its consulate …

Oil prices increased on Thursday, amid hopes over further stimulus from governments and central bankers around the globe that could support the global economic recovery from the COVID-19 pandemic. At the same time, the market continues to price in optimism on vaccine progress after the US government had agreed to …

Oil prices declined on Wednesday, following a climb in the previous day, after industry data showed a larger-than-expected stock build in the US. API reported US crude inventories rose last week by 7.5 million barrels compared with expectations for a draw of 2.1 million. Meanwhile, US President Trump shifted his …

Oil prices dropped on Monday, amid concerns that a fresh wave in COVID-19 cases in several US states and some places across the globe could slow recovery in fuel demand. More than 14 million people have been infected by the virus globally and nearly 602,000 have died, according to a …

WTI crude futures fell nearly 1% to trade around $40.4 per barrel on Friday, as investors fear that fuel demand could take more time to recover amid a surge in coronavirus cases, while oversupply concerns also persisted. On Thursday, the US reported at least 75,000 new COVID-19 cases, a new …