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Fears about a possible decrease in demand for oil led to a drop in oil prices during trading on Monday. The projected global demand for oil is adversely affected by the slowdown in the growth of profits of industrial enterprises in China for five consecutive months, which also causes a slowdown in the growth rate of China’s GDP. Saudi Arabia's planned increase in oil production to the maximum to counter the effects of the introduction of US sanctions against Iran, and the growth of oil reserves in the United States also affect market sentiment. By 18:08 Moscow time on Monday, December futures for Brent oil fell by 51 cents to 77 dollars 11 cents per barrel. The price of the December futures for WTI oil fell 63 cents to 66 dollars 96 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 ...
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
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 ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
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 ...
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