Tag Archives: Oil prices

Oil prices rose on Wednesday, extending the prior session’s gains, after industry data showed the biggest draw in inventories since August 2019. Stocks of crude oil in the US tumbled by 8.3 million barrels in the week ended July 10th. Meanwhile, market participants look forward to the OPEC meeting later …

Oil prices dropped on Monday, amid concerns that a record rise in COVID-19 infections could stall global recovery in fuel demand. The WHO Sunday reported a record daily rise in virus cases worldwide. In the US, Florida reported over 15 thousand new virus infections Sunday, the highest single-day total to …

Oil prices fell on Thursday, amid growing fears that renewed COVID-19 lockdowns in the US and some parts of the globe could hurt signs of a sustained recovery in fuel demand. On Wednesday, oil prices increased after industry data showing US gasoline stockpiles fell by 4.8 million barrels last week …

Oil prices were lower on Wednesday, with WTI futures near $40.5 a barrel and Brent crude near $43 a barrel. Investors try to assess the economic impact of mounting coronavirus cases in several countries including the US, India, Australia and Spain and the need for further lockdowns and economic shutdown. …

Oil traded lower on Tuesday, with WTI futures around $40.3 a barrel and Brent crude near $42.8 a barrel, as a spike in coronavirus cases worldwide raised worries that fuel demand is likely to remain subdued. In the US, the epicenter of the disease, the number of infections rose by …

Oil prices extended gains on Thursday, with WTI crude near $40.1 a barrel and Brent crude near $42.4 a barrel as investors try to shrug off coronavirus concerns. Better-than-expected manufacturing PMI figures for both China and the US released on Wednesday, hopes for a new coronavirus vaccine and the biggest …

Oil prices were up more than 2% on Wednesday after API reported an 8.156 million draw in US crude oil inventories which was the biggest decline since August of 2019. Investors now await official EIA figures to be released later in the day, However, a spike in the number of …

Oil prices dropped on Tuesday, amid concerns over a second wave of coronavirus following easing coronavirus-led lockdown restrictions in more countries. On the supply side, market participants are watching to see whether Libya, which can produce about 1% of global oil supply, is able to resume exports. Reuters reported that …

Oil prices erased most earlier losses on Monday, with the WTI crude trading around $38.5 a barrel and the Brent crude near $41 a barrel as investors focus shifted to the global economic recovery. Investors’ hope on monetary stimulus rose after the People Bank of China said it will implement …