On Friday oil prices gained after three week lows, as US witnessed decline in the novel coronavirus cases. According to the details, Brent crude was up by 40 cents, or 0.9%, at $43.34 a barrel. On Thursday, Brent closed down 1.9% but had recovered much of the ground lost from the lowest level since July … Read more
Brent crude on Thursday added 4 cents in price and traded at $44.13 in early hours. According to the details, U.S. West Texas Intermediate (WTI) crude futures were down one cent at $41.26 a barrel. U.S. crude inventories fell by 10.6 million barrels in the week to July 24 to 526 million barrels, compared with … Read more
On the second day of the business week, brent crude gained 35 cents to $43.76 a barrel, while U.S. West Texas Intermediate (WTI) crude futures advanced 27 cents, or 0.7%, to $41.87 a barrel. According to the details, weakening dollar made oil cheaper for global buyers. Brent crude futures climbed 35 cents, or 0.8%, to … Read more
After the concerns over recovery in oil demand resurfaced amid a spike in COVID-19 cases worldwide, crude futures marked low during morning trade. According to the reports, Brent crude futures down 8 cents/b (0.18%) to $43.26 per barrel. Fresh date provided by John Hopkins University showed that global COVID-19 case counts have continued to rise … Read more
Despite of weaker dollar, oil prices witnessed gains on the last of the business week, adding 15 cents at $43.46 a barrel. According to the details, Brent crude rose 15 cents, or 0.4%, to $43.46 a barrel while, U.S. West Texas Intermediate (WTI) crude rose by 12 cents, or 0.3%, to $41.19. Market Analysts are of … Read more
With limited gains on the fourth day of the business week, oil prices ticked higher; adding 2 cents taking rate to $44.31 a barrel. According to the details, Brent crude added 2 cents, or 0.1%, to $44.31 a barrel while U.S. West Texas Intermediate (WTI) crude gained 6 cents, or 0.1%, to $41.96 a barrel. … Read more
Prices of oil fell dramatically on the third day of the business week, as the demand in United States, world’s largest oil consumer; dented after spike in coronavirus cases. According to media reports, Brent crude fell 32 cents, or 0.7%, to $44 a barrel, and U.S. West Texas Intermediate (WTI) crude CLc1 dropped 33 cents, … Read more
As the worsening coronavirus pandemic threatens recovery, brent crude fell 10 cents or 0.2%, at $43.04 a barrel on the first day of the business week. According to the details, the oil dropped this week, after gaining 4 cents last week 0.2%, at $40.53 a barrel. The prospect that a rise in the spike of … Read more
As Opec and Russia agreed to ease record supply curbs from August, Oil prices in the international market slid at $43.66 a barrel on Thursday. According to the details, Brent crude LCOc1 fell 13 cents, or 0.3%, at $43.66 a barrel, whereas US West Texas Intermediate (WTI) crude CLc1 dropped 18 cents, or 0.4%, to … Read more
Despite the surge in coronavirus cases in the United States, fuel demand in the international market witnessed recovery as Brent crude futures were up 19 cents, or 0.4%, at $43.09 a barrel. On the third day of the business week, U.S. West Texas Intermediate (WTI) crude futures spiked 17 cents, or 0.4%, to $40.46 a … Read more
Production cartel Opec and Russia are expected to meet today to discuss the oil cuts, however experts warned that prices may fall. According to the details, members of both sides, widely expected to stick with their previously agreed plan to scale back production cuts to 7.7 million barrels per day (bpd) at the end of this … Read more
On the first day of the business week, oil prices slipped as traders aim for the OPEC technical meeting this week. According to the details, the meeting is expected to ease the supply cuts that have been holding up crude prices. Brent crude decreases 27 cents to $42.97 a barrel while US West Texas Intermediate … Read more
Crude oil futures fell after revived production at a Libyan oil field sparked fears of an inventory flood. West Texas Intermediate contracts slipped as much as 4% to $39.27. Brent crude, the commodity’s international standard, fell 3.1% to an intraday low of $41.93. Both contracts retraced some gains following the decline. The Messla oil field … Read more
As China releases inflation data for the month of June, the share market in the Asia Pacific witnessed an increase in morning trade. According to data provided, Asia Pacific stocks saw a strong performance so far this week. The Shanghai Composite gained 0.17% in the morning trade. Shenzhen component advanced 0.877%. Hong Kong’s Hang Seng … Read more
The Oil prices witnessed a decrease of 0.3% to $42.95 a barrel, in early trade on the third day of the business week. The decrease is due to the concerns that the United States of America, which is the biggest oil consumer will limit the use, as the country witnessed the surge in novel coronavirus … Read more
Amid the novel coronavirus outbreak in the world, Brent crude rose 18 cents, or 0.4%, to $42.98 a barrel after a 4.3% gain last week, According to reports, U.S. West Texas Intermediate crude was at $40.42, down 23 cents, or 0.6%, from its previous settlement. Economists are of the view that “There will be some kind … Read more
As the ongoing pandemic continues to grip the business around the world, various studies and projections have been carried out regarding the fuel demand in the coming years. According to the latest study, because of the crisis, companies around the world have one important matter to worry about and that is fuel demand. It is … Read more
Oil prices grew on the third day of the business week, after world economies witnessed recoveries from the COVID-19 impact. Media reports said that; Brent, the global benchmark, reached $44 a barrel at one stage in European trading. This is the highest level of oil prices since early March — as more countries lifted lockdown … Read more
On the first day of the business week, Asian shares and Wall Street futures fell as growing fears of a second wave of the novel coronavirus infections revived economic concerns. The risk-off sentiment is also likely to weigh on global markets, with e-Minis for the S&P 500 extending losses in Asia to be down 2.7% … Read more
On the last day of the business week, Asian shares fell sharply after Wall Street and oil plunged over growing concerns that a resurgence of coronavirus infections could affect the pace of recovery in economies reopening from lock-downs. According to the details, American finance company headquartered in New York City (MSCI’s) broadest index of Asia-Pacific … Read more
Oil prices escalated on Tuesday after the easing of coronavirus lockdown measures across the globe. According to reports, easing of restrictions worldwide lifted trader hopes for a swift recovery in demand. Brent crude futures rose 0.3%, or 14 cents, by 0435 GMT to $40.94 a barrel. The benchmark contract had fallen $1.50 on Monday, snapping … Read more
Russia, Saudi Arabia allow strengthening relation to maintain oil prices Russian President Vladimir Putin and Saudi Crown Prince Muhammad Bin Salman allowed this Wednesday to strengthen coordination to lower oil production and maintain the international oil business. The Kremlin announced in a report that Putin and Bin Salman additionally accepted on the necessity to thoroughly … Read more
Finally a sigh of relief breathed by oil markets on Tuesday amid the signs of global abundance, after Brent crude, the Middle East benchmark, traded above $30. Media reports said, after witnessing heavy fallout previous month, Brent crude, the Middle East benchmark, traded above $30 a barrel for the first time. It rose by $3.77, … Read more
Amid a fresh trade spat between United States and China, oil prices witnessed another fallout, with Brent Crude reduction at $26.37. Media reports said Brent crude was down 7 cents, or 0.3 percent, at $26.37, while US West Texas Intermediate (WTI) crude fell 39 cents, or 2 percent, to $19.39. While global oil demand is … Read more
Oil Prices plunged below zero for the first time in history as demand for energy collapses amid the global pandemic and traders sought to avoid owning crude with nowhere to store it. As per details, Oil Prices plunged below zero for the first time in history as demand for energy collapses amid the global pandemic and traders … Read more
The huge downfall in oil markets is observed on today (April 20). According to the details, US oil price rushed 94%, decreasing as low as $1 per barrel. The sources said that this is the lowest since New York Mercantile Exchange (NYMEX) introduced oil futures trading in 1983. The managing director at Fathom Consulting Erik … Read more
The prices of oil have fallen to the lowest level in 18 years as demand for crude oil has decreased after coronavirus pandemic. International news agency BBC reported that Brent crude fell to $23.03 a barrel at one point on Monday morning, its lowest level since November 2002. Meanwhile, the price of US West Texas … Read more
Global Oil Price: The countries may run out of oil space to store oil as Saudi Arabia prepares to increase its oil production even as demand for energy continues to fall amid coronavirus outbreak. Oil storage levels across storage facilities have surged to 75% full since January shutdown of major refineries in China’s industrial heartlands. … Read more
