Crude oil futures fell on Tuesday amid a gridlock in U.S. stimulus negotiations and rising coronavirus infection rates globally. However, expectations for tighter oil U.S. supplies limited price declines. Consequently, Brent crude dropped by 49 cents, or 1.1%, to settle at $44.50 a barrel. At the same time, U.S. WTI crude lost 33 cents, or 0.8%, to finish at $41.61 a barrel.
read more... 12/08/2020
Crude oil futures were on the front foot at the beginning of the week, driven by optimistic remarks about demand from the CEO of the world's largest oil company, Aramco and positive economic data from China. In this context, Brent crude for October delivery rose by 59 cents, or 1.3%, to settle at $44.99 a barrel on ICE Futures Europe. At the same time, U.S. WTI crude for September delivery soared by 72 cents, or 1.8%, to close at $41.94 a barrel on the New York Mercantile Exchange.
read more... 11/08/2020
Oil prices declined on Friday amid uncertainty caused by negotiations over a new stimulus deal in the United States. Moreover, rising coronavirus cases could renew concerns over global fuel demand. Brent crude fell 1.5% to settle at $44.40 a barrel. Similarly, WTI lost 1.7% to end at $41.22 a barrel.
read more... 10/08/2020
Crude oil prices slipped below five-month highs on Thursday, on renewed concerns of global fuel demand due to the coronavirus pandemic. This decrease, however, was tempered by Iraq’s intention to make an additional cut in its oil production. In this context, Brent crude edged 0.2% lower at $45.09 a barrel. Similarly, WTI futures settled 0.6% down at $41.95 a barrel.
read more... 07/08/2020
Crude oil prices climbed above $45/bl on Wednesday, supported by a steep fall in U.S. crude inventories and weak U.S dollar. Consequently, Brent crude traded 1.7% higher at $45.17 a barrel. Similarly, WTI futures increased by 1.2% to $42.19 a barrel.
read more... 06/08/2020