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During the evening trading on Friday, there was a steady increase in oil prices. The price of WTI crude oil for the week decreased due to expectations of growth in supply in the world market amid increasing US reserves and production. Investors, moreover, fear the consequences of increasing tensions between the United States and Saudi Arabia. By 18:05 Moscow time, prices for December futures for Brent oil rose by 1 dollar 16 cents to 80 dollars 45 cents per barrel. The November WTI futures price rose 92 cents to 69 dollars 57 cents a barrel. Goldman Sachs expects that, despite the upcoming introduction of US sanctions against Iran, the oil supply in the market will be quite high due to a faster than expected increase in production in Saudi Arabia.
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 ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
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. ...
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