Data analytics company Genscape reported that, according to its estimates, stocks in Cushing over the past week rose by 630,000 barrels. According to Bloomberg, this information on Monday towards evening unexpectedly turned oil prices to a decline after rising during the day. By 18:45 Moscow time on Monday, Brent crude fell 22 cents to 60 dollars 6 cents a barrel. The price of WTI crude oil fell by 68 cents to 50 dollars 52 cents per barrel. Some investors believe that the implementation of the OPEC + agreement to reduce production next year will not fully eliminate the expected imbalance of supply and demand in the global oil market.
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 ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
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 ...
Asian stocks advanced on the prospect of ultra-easy monetary policy as the U.S. Federal Reserve kept interest rates near zero. Fed deemed it necessary to salvage the ailing economy, dragging the dollar down to a two-year low. The target range ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...