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On Thursday, oil prices moved to a sharp decline, as market participants continued to evaluate statistics on commercial hydrocarbon reserves and oil production in the US. According to the US Department of Energy, commodity stocks of oil in the US increased by 5 million 836 thousand barrels in a week, while analysts had predicted growth of 4 million 100 thousand barrels. The reserves of gasoline fell by 3 million 165 thousand barrels. The production of oil in the US increased by 100,000 barrels per day and for the first time reached 11 million barrels per day. The price of the September futures for Brent crude by 14:39 Eastern European time fell by 82 cents to 72 dollars 8 cents per barrel. September futures for WTI oil fell by 77 cents to 66 dollars 98 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 ...
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 ...
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