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Following the results of the last week, Brent crude oil fell in price by 1.8%, WTI - by 3.6%. The pressure on oil prices is caused by the problems of emerging markets and the US trade conflict with China. In addition, according to the US Department of Energy, last week gasoline reserves in the country grew by 1 million 850 thousand barrels, reserves of distillates rose by 3 million 100 thousand barrels. At the same time, experts had expected a decrease in gasoline stocks and a less significant increase in distillate stocks. On Friday, November futures for Brent crude fell 27 cents to 76 dollars 23 cents a barrel. The price of the October WTI futures fell by 45 cents to 67 dollars 32 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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