Oil prices ended higher on Monday as storms Marco and Laura expected later in the week halted more than half of oil production in the Gulf of Mexico. As a result, Brent crude rose by 78 cents, or 1.76%, to settle at $45.13 a barrel. At the same time, U.S. WTI crude settled at $42.62 a barrel, rising by 28 cents, or 0.7 %.
read more... 25/08/2020
Oil prices declined on Friday amid concerns over the second wave of the Covid-19 that could dent fuel demand. However, better than expected data for US housing and manufacturing indicators limited the losses. As a result, Brent crude fell 1.2% to settle at $44.35 a barrel. Similarly, WTI futures lost 1.1% to end at $42.34 a barrel
read more... 24/08/2020
Crude oil futures lost ground on Thursday, pressured by downbeat comments from the U.S. Fed and OPEC+ on the demand outlook due to the coronavirus, while U.S. unemployment claims unexpectedly rose last week. Hence, Brent crude fell by 47 cents, or 1%, to settle at $44.90 a barrel. At the same time, U.S. WTI crude ended the session 11 cents, or 0.3%, lower at $42.82 a barrel.
read more... 21/08/2020
Crude oil prices lost momentum on Wednesday, as a drop in US crude inventories was outweighed by renewed worries over the second wave of the Covid-19 pandemics. Consequently, Brent crude decreased by 0.2% to $45.37 a barrel, while WTI futures edged 0.1% higher at $42.93 a barrel.
read more... 20/08/2020
Crude oil futures barely changed on Tuesday as the market participants watched the upcoming U.S. government data expected to show a fourth straight weekly drop in stockpiles. However, OPEC+ high compliance with supply cuts in July added little support to oil prices. Consequently, Brent crude rose by 0.2% to settle at $45.46 a barrel. At the same time, U.S. WTI crude remained unchanged at $42.89 a barrel.
read more... 19/08/2020