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On Tuesday, oil prices declined moderately on reports of an increase in production in Russia and amid lower fears concerning Iranian oil. As a source familiar with statistics told Interfax, in July, Russia produced 1 million 530 thousand tons of oil per day, which is 269,000 barrels per day above the quota of the OPEC + deal. JTD Energy Chief Strategist John Driscoll noted that the statement of US President Donald Trump regarding his willingness to meet with Iranian President Hassan Rouhani at any time and without preconditions also creates downward pressure on the oil market. On Tuesday at 13:58 Moscow time, September futures for Brent crude fell 14 cents to 74 dollars 83 cents a barrel. The price of September futures for WTI crude oil fell by 44 cents to 69 dollars 69 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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