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Oil prices showed a decline on Wednesday based on reports from Libya, MarketWatch writes. The Libyan National Oil Corporation NOC announced the removal of force majeure circumstances in the ports of Ras Lunaf, Sidr, Al-Harik and Zuwein after their transfer to the corporation on June 11. NOC reported that export operations would resume in the next few hours. According to Bjørnar Tonhaugen, Rystad Energy's vice president for oil markets, the resumption of exports from Libya will increase oil supplies to the world market by about 700,000 barrels per day. Quotes of September futures for Brent crude by 14:00 Moscow time fell by 1 dollar 56 cents to 77 dollars 30 cents per barrel. August futures for WTI oil fell 43 cents to 73 dollars 68 cents a 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 ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
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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