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After the release of a report by the US Department of Energy on oil reserves in the country, a moderate decrease in oil prices was observed on Wednesday. Over the past week, oil reserves in the United States increased by 7 million 70 thousand barrels, which significantly exceeded the growth expected by analysts by 1 million 900 thousand barrels. At the same time, the volume of oil produced in the United States remained unchanged, retaining a record value of 12 million 100 thousand barrels per day. The United States increased the volume of imported oil by 1 million 80 thousand barrels per day and reduced its export volume by 556 thousand barrels per day. Against this background, Brent crude oil by 18:41 Moscow time dropped in price by 22 cents to 65 dollars 64 cents per barrel. The cost of WTI crude oil fell 66 cents to 55 dollars 96 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 ...
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 ...
Asian stocks advanced on the prospect of ultra-easy monetary policy as the U.S. Federal Reserve kept interest rates near zero. Fed deemed it necessary to salvage the ailing economy, dragging the dollar down to a two-year low. The target range ...
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 ...
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