Tag Archives: Oil prices

Oil prices fell more than 1% on Friday, heading for a weekly losses, amid concerns over sluggish global demand on the back of ample supplies. US industry data showed gasoline demand fell to 8.78 million barrels per day (bpd) last week from 9.16 million bpd a week earlier. US refiners …

Brent crude prices fell more than 1% to a four-week low of $43.54 a barrel on Thursday, as fuel demand tumbled in the United States last week which offset a much larger than expected draw in crude oil inventories. Latest data from the EIA showed US gasoline demand fell to …

Oil prices increased on Wednesday, extending its previous gains, amid a bigger-than-expected fall in US crude inventories. Industry data showed US oil stockpiles dropped by 6.4 million barrels in the latest week to about 501.2 million barrels, compared with market consensus of a draw of 1.9 million barrels. Sentiment was …

Oil prices increased on Tuesday at around 04:15 AM GMT, with WTI crude hovering near five month-high of around $43 a barrel, while Brent crude gaining 1.1% to $45.76 a barrel, supported by efforts from major oil producers to control output as well as hopes for the latest development of …

WTI crude gained more than 0.7% to $43.3 a barrel on Monday, extending a 1.5% rise in the previous week, as Hurricane Laura passed and Texas avoided the worst of the storm, allowing affected refineries to start the recovery process. Meanwhile, investors’ sentiment improved after official PMIs for China showed …

Oil prices remained near a five-month high on Thursday, amid a threat from Hurricane Laura in the Gulf of Mexico that forced oil rigs and refineries to shut. The storm intensified Wednesday and is now bring heavy rains and catastrophic. Meanwhile, industry data showed that US crude inventories were at …

Brent crude oil prices rose on Wednesday, lifted by U.S. producers shutting most of their offshore output in the Gulf of Mexico ahead of Hurricane Laura and optimism over China-U.S. trade talks. But gains were capped amid renewed concern over the coronavirus pandemic, which has squeezed fuel demand, after reports …

Oil prices were almost flat on Monday, as investors watched the latest development regarding the COVID-19. In the US, virus infections showed signs of stabilization, with the Food and Drug Administration authorizing the use of blood plasma from recovered patients as treatment options. Meanwhile, fears over a fresh wave of …

Oil prices were down near 1% to $42.3 a barrel on Friday, after falling more than 2.5% during the session amid mounting concerns over fuel demand recovery. The latest PMI data showed a loss of growth momentum in private sector activity in Germany, France and Australia amid renewed restrictions due …

Oil prices rose on Friday, supported by efforts from major oil producers to control output as well as hopes for US fiscal stimulus, with House Speaker Nancy Pelosi opposing smaller COVID-19 relief bill. The increase, however, was capped by fears over rising COVID-19 cases in some parts of the globe …