Crude futures recovered from a more-than 20-year low on Wednesday, on potential new oil talks between OPEC producers to deepen supply cuts to support the market. Consequently, Brent crude jumped by 5.4% to $20.37 a barrel. Similarly, WTI futures traded 19.1% higher at $13.78 a barrel.
read more... 23/04/2020
Crude oil prices plummeted on Monday, with WTI crude tumbling below $0 for the first time in history, a fall amplified by the imminent expiration of the May U.S. oil futures contract which prompted investors to get rid of it at any cost.
read more... 21/04/2020
Crude oil futures evolved differently on Friday, with U.S. WTI crude at 18-year lows as bearish Chinese economic figures and growing U.S. supplies overshadowed Trump’s plan to ease lockdown measures.
read more... 20/04/2020
Crude oil futures ended on a mixed note on Thursday, with Brent recording minor gains as some European countries decided to loosen up coronavirus restrictions. Hence, Brent crude rose by 13 cents, or 0.5%, to settle at $27.82 a barrel. U.S. WTI crude was unchanged at $19.87 a barrel, marking the second straight day at its lowest level since February 2002.
read more... 17/04/2020
Oil futures posted losses on Wednesday, fluctuating around 18-year lows, due to the biggest weekly surge ever in the U.S. crude inventories (19 million barrels). The coronavirus pandemic also put pressure on prices, as global demand is expected to fall to quarterly-century lows. As a result, Brent crude dropped by 6.5% to $27.69 a barrel. WTI futures traded 1.2% lower at $19.87 a barrel.
read more... 16/04/2020