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Against the background of concerns about the limited supply of fuel in the future due to the introduction of US sanctions against Iran over the past week, Brent crude has risen by 2.4%, WTI - by 2.1%. Analysts also express concerns that Saudi Arabia and Russia will be able to increase oil production in time to compensate for the reduction in deliveries from Iran. All these expectations gave grounds for experts to predict that Brent oil could reach $100 per barrel in the fourth quarter of 2018 or the first quarter of next year. On Friday, Brent crude rose 15 cents to 84 dollars 73 cents a barrel. The price of WTI rose 44 cents to 74 dollars 57 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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