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The United States, which resumed sanctions against Iran’s oil, banking and transportation sectors on Monday, made an exception for 8 countries. Permission for further purchases of Iranian oil for 180 days was obtained by South Korea, India, China, Turkey, Greece, Japan, Italy and Taiwan, which account for three quarters of the sea transportation of oil from Iran. Washington's decision influenced the dynamics of oil prices. On Tuesday, at 6:04 pm Moscow time, Brent fell 0.37% to 72 dollars 80 cents a barrel. The price of WTI fell 0.2% to 62 dollars 92 cents per barrel.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
Oil prices gained for the third day on Tuesday, supported by a bounce in demand from efforts to lift the U.S. economy as it struggles to recover from the coronavirus pandemic. Prices were also buoyed by a weakening dollar, making it ...
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