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After a sharp drop in oil prices on Wednesday based on data on the unexpected increase in fuel stocks in the US, oil prices on Wednesday showed a weak multidirectional dynamics. October Brent crude oil futures by 14:49 Moscow time went up by 33 cents to 71 dollars 9 cents per barrel. The price of September futures for WTI crude oil fell 11 cents to 65 dollars 12 cents a barrel. Data on the growth of oil reserves in the United States by 6 million 810 thousand barrels, the maximum rate since March 2017, on Wednesday led to a drop in the value of Brent by more than 2%, WTI - by more than 3%. The market is supported by information on the possible resumption of negotiations between China and the United States on the situation in foreign trade.
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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