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During trading on Thursday, oil prices changed in different directions. September futures for Brent crude by 14:03 Moscow time went up by 39 cents to 74 dollars 32 cents a barrel based on reports that Saudi Arabia would suspend supplies through the Red Sea. According to Richard Mallinson from Energy Aspects, oil tankers will now be sent around the peninsula of Somalia after the attacks on two tankers by Yemeni rebel Houthis. At the same time, WTI oil went down due to fears of excessive supply. The cost of September futures for WTI oil by the indicated time fell by 4 cents to 69 dollars 26 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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