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Oil prices ended last week with growth based on concerns about fuel supplies to the world market. However, on Friday evening, oil prices fell. July futures for Brent crude by 18:14 Moscow time on Friday fell by 6 cents to 79 dollars 25 cents per barrel. Prices for June WTI futures fell by 17 cents to 71 dollars 32 cents per barrel. Over the past week, Brent has risen in price by 2.9%, WTI - by 1%. The growth of the oil market was caused by concerns over the reduction of oil exports from Iran after the introduction of US sanctions against it and the likely increase in production by the OPEC countries. Investors also closely monitor the falling oil production in Venezuela.
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 ...
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. ...
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