Tag Archives: Oil prices

Oil prices were higher on Friday, amid hopes over a recovery in fuel demand after reports that Saudi Arabia’s crude oil exports rebounded in July to 5.73 million barrels per day from a record low of 4.98 bpd in June. Sentiment was also lifted by reports that finance ministers and …

WTI crude futures traded below $40 per barrel on Thursday following a two-day rally, as concerns about fuel demand mounted after the EIA reported a bigger-than-expected rise in US distillate stockpiles, which include diesel and heating oil. At the same time, energy companies prepared to resume production in the Gulf …

Oil prices rose sharply on Wednesday, extending its previous session’s gains, after API data showed US crude inventories fell by 9.5 million barrels last week. The US Energy Information Administration is due to release its own data later in the day. On the demand side, investors’ expectations over a demand …

WTI crude futures fell to trade around $37.2 a barrel on Tuesday, hovering near multi-month lows amid mounting concerns over fuel demand recovery. On Monday, OPEC said in its monthly report that world oil demand will decline by 9.46 million barrels per day this year, more than the previous month’s …

Oil traded near multi-month lows on Monday, amid concerns about deteriorating demand on the back of excess supply. According to British Petroleum’s latest long-term energy outlook, global fuel demand may have already peaked as the COVID-19 pandemic kicks the world economy onto a weaker growth trajectory and accelerates the shift …

WTI crude futures settled 0.1% higher at $37.33 a barrel on Friday, but notched a second weekly loss of 6.1 per cent. It was the largest loss since the beginning of June amid a surprise build in US crude oil inventories and mounting concerns over fuel demand recovery. Data from …

WTI crude futures fell more than 1% to trade around $37.4 a barrel on Thursday, amid an unexpected rise in US crude inventories and mounting concerns about fuel demand recovery as global coronavirus cases continue to rise. Data from the API showed US crude stockpiles rose by 3 million barrels …

Oil prices were noticeably lower on Wednesday after a sharp drop in the prior session, amid fears that rising COVID-19 cases in some countries, including India, Britain, and Spain would slow a recovery in fuel demand. Sentiment was also dampened by reports that AstraZeneca had paused a late-stage trial of …

Oil prices dropped on Tuesday, as summer peak driving season in the US was almost over, while China reported that it had imported 11.18 million bpd of crude oil in August, less than 12.08 million bpd in July and below April’s record of 12.94 million bpd. Also weighing sentiment was …

Oil prices fell more than 1% on Monday, touching their lowest since July, as optimism about demand recovery weakened after Saudi Arabia cut the October official selling price for Arab light crude it sells to Asia by the biggest margin since May. Meantime, the US government report last week showed …