Tag Archives: Oil

Oil prices fell on Tuesday amid concerns that a surge in new coronavirus cases, especially in the United States, will hamper any recovery in fuel demand. Brent crude LCOc1 futures declined by 24 cents, or 0.56%, to $42.86, by 1236 GMT. U.S. West Texas Intermediate (WTI) crude CLc1 futures fell …

Oil prices were mixed on Monday, with Brent crude edging higher, supported by tighter supplies and positive economic data, while U.S. benchmark WTI futures dropped on concern that a spike in coronavirus cases could curb fuel demand in the United States. Brent crude LCOc1 was up 41 cents, or 1%, …

Oil fell below $43 a barrel on Friday as a resurgence of coronavirus cases raised concern that fuel demand growth could stall, although crude was still headed for a weekly gain on lower supply and wider signs of economic recovery. The United States reported more than 55,000 new coronavirus cases …

Saudi Arabia has issued a dire warning with OPEC members, Nigeria and Angola, warning that it would ignite an oil-price war with them unless they toe the line. In June, OPEC+ members agreed to continue reducing production in an effort to boost oil prices and what they did has helped …

Oil prices rose more than 1% on Wednesday following a drawdown in U.S. crude inventories from record highs and a string of positive manufacturing data, but a surge in coronavirus cases tempered gains. Brent crude LCOc1 rose 76 cents, or 1.8%, to settle at $42.03 a barrel. U.S. crude CLc1 …

Oil prices slipped on Tuesday amid rising COVID-19 cases and a possible return of Libyan oil production, which has been down to a trickle since the start of the year. The more-active September contract for Brent LCOc2 fell 37 cents, or 0.88%, to $41.48 a barrel by 1125 GMT, paring …

Oil prices slid for a second straight session on Monday as coronavirus cases rose in the United States and other places, leading some countries to resume partial lockdowns that could hurt fuel demand. Brent crude LCOc1 dropped 83 cents, or 2%, to $40.19 a barrel by 0456 GMT, while U.S. …

Oil prices dipped on Friday, erasing earlier gains, on concerns about rising new coronavirus cases in the United States and China and expectations of U.S. output ticking up while crude stockpiles linger at record highs. Brent crude LCOc1 futures were 13 cents lower at $40.92 at 1342 GMT. U.S. West …

Markets showed signs of optimism on Friday, with European shares opening higher and oil prices rising despite a record number of new COVID-19 infections in the United States. They rose across the U.S. by at least 39,818 on Thursday, the largest one-day increase of the pandemic. The governor of Texas …

Oil prices slipped further on Thursday after tumbling more than 5% in the previous session, as a record build in U.S. crude inventories and a rapid resurgence in COVID-19 cases cast doubts on a recovery in fuel demand. U.S. West Texas Intermediate (WTI) crude futures fell 26 cents, or 0.7%, …

Oil prices fell on Monday as concern grew that a record rise in global coronavirus infections could stall recovery in fuel demand, outweighing tighter supplies from major producers. Brent crude LCOc1 was down 24 cents, or 0.6%, at $41.95 a barrel by 1141 GMT. The West Texas Intermediate (WTI) crude …

Oil prices rose on Friday but pulled back sharply from early highs on concerns that continued spread of the novel coronavirus could stall the United States’ economic rebound. Crude benchmarks followed other assets lower, pulling back from session highs after Boston Federal Reserve President Eric Rosengren said more fiscal and …

Oil rose to above $42 a barrel on Friday, adding to gains in the previous session, after OPEC producers and allies promised to meet supply cuts and signs of demand, hit by the coronavirus crisis, recovering. Iraq and Kazakhstan, during a meeting of an OPEC+ panel on Thursday, pledged to …

Oil prices ticked up on Thursday after U.S. oil product stocks shrank, providing bulls with ammunition ahead of a meeting between OPEC producers and their allies to discuss their future output strategy. Brent crude LCOc1 futures were up 37 cents at $41.08 a barrel at 0846 GMT. U.S. West Texas …

Oil fell on Wednesday on fears that COVID-19 cases could rise, but prices drew some support from stimulus measures and hopes for positive tests of a drug that could save some critically ill patients. Brent crude LCOc1 was down 21 cents, or 0.5%, at $40.75 a barrel at 0930 GMT. …

Oil prices slid on Tuesday on lingering concerns over the threat to fuel demand from the resurgence of new coronavirus infections around the world, though hopes for further cuts in crude supplies stemmed losses. Brent crude LCOc1 fell 20 cents, or 0.5%, at $39.52 a barrel by 0424 GMT, having …

US occupation forces are going ahead with looting oil and gas fields in Syria. SANA news agency reported on Friday that US occupation forces stole a convoy loaded with dozens of tanks and tankers of fuel material heading from the Al-Jazeera region towards the Iraqi lands. The news agency quoted …

Oil prices slumped on Thursday, dragged down by another record build-up in U.S. crude inventories and the U.S. Federal Reserve’s projections that the world’s biggest economy would shrink 6.5% this year. Brent crude LCOc1 futures erased Wednesday’s gains, falling 6.6%, or $2.74, to $38.99 a barrel by 1342 GMT. U.S. …

Oil fell more than 1% towards $40 a barrel on Wednesday after a report showed a rise in crude inventories in the United States, reviving concerns about oversupply and weak demand due to the coronavirus crisis. The report from the American Petroleum Institute, an industry group, said crude stocks rose …

A massive fire has erupted at an oil well in northeastern India after it leaked gas for two weeks straight, forcing thousands to evacuate and causing serious environmental damage in the area. The Baghjan oil field in Upper Assam’s Tinsukia district suffered a blowout a fortnight ago and has been …