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Fears of a shortage of fuel amid US sanctions against Iran are pushing oil prices up. As of 5 pm Moscow time on Monday, Brent crude futures for December delivery rose 48 cents to 83 dollars 13 cents a barrel. WTI oil rose in price by 27 cents to 73 dollars 45 cents per barrel. Analysts of the Australian bank ANZ predict a rise in oil prices to $100 per barrel. Experts believe that the main reasons for rising prices will be US sanctions against Iran and stagnation of drilling activity in the United States. They note the weakest indicator of growth in the number of drilling rigs in the United States in the third quarter, when only 5 new installations appeared.
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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