Tag Archives: Oil prices

Oil prices fell around 2% on Friday, as investors were skeptical toward a recovery in global fuel demand following a resurgent of COVID-19 cases in the US and across Europe. Sentiment was also dragged down by news that British energy giant BP will shut its 65-year old refinery in Perth …

Oil prices rose on Thursday, recovering from a slump in the prior session, as Hurricane Zeta in the Gulf of Mexico approached. The hurricane, however, is forecast to weaken into a non-tropical gale-force low by Thursday morning in the US, according to the National Hurricane Center. Meantime, Reuters reported that …

Oil prices plunged on Wednesday, giving up most of the previous day’s gains, amid a jump in US crude inventories. Industry data showed US crude oil and gasoline stocks rose last week, with crude inventories rising by 4.6 million barrels to about 495.2 million barrels, beating expectations for a build …

Oil prices fell more than 1% on Monday, amid mounting fears over weakening global demand as the number of COVID-19 cases US surged in North America and across Europe. The US saw its highest number of virus cases in two days through Saturday, while new infections in France hit a …

Crude oil futures fell nearly 0.4% to trade around $40.5 a barrel on Friday, heading for a weekly loss of less than 1% amid mounting concerns over fuel demand recovery as the number of global coronavirus infections continue to rise with several countries including the UK, Spain, Italy and the …

Crude oil futures rose over 0.6% to trade around $40.2 a barrel on Thursday, as data from the EIA showed crude oil inventories in the US dropped for the second consecutive week. The latest report from the EIA showed US crude oil stockpiles fell by 1,001 million barrels in the …

Crude oil futures were down 0.2% to trade around $40.8 a barrel on Tuesday, amid mounting concerns over fuel demand recovery as the number of infections keep rising worldwide and several countries imposed fresh restrictions including Germany, Italy, France, Ireland and US state of Wisconsin. Meanwhile, the OPEC+ Joint Ministerial …

Crude oil futures were down over 0.5% to trade around $40.6 a barrel after briefly turning positive in early European hours on Monday, amid mounting concerns over fuel demand recovery and latest Chinese data. Investors remain concerned about rising global coronavirus infections and its impact on fuel demand recovery as …

Oil prices were down on Thursday, amid concerns about weak fuel demand after a resurgent of COVID-19 infections across Europe. President Emmanuel Macron announced night curfews for four weeks from Saturday in Paris and other major cities, while German launched tougher measures to fight the pandemic. Meantime, investors were wary …

Oil prices fell on Wednesday, amid fears that rising COVID-19 cases in the US and across Europe would deteriorate global fuel demand. In its monthly report Tuesday, the OPEC mentioned that oil demand in 2021 will rise by 6.54 million barrels per day (bpd) to 96.84 million bpd, 80,000 bpd …