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Following the result of last week, oil prices rose for the third consecutive week. The market is waiting for the second round of US sanctions against Iran, demonstrating concerns over the shortage of raw materials. At the end of last week, the price of Brent increased by 3.9%, WTI – by 1.8%. In the third quarter, the growth in Brent prices was observed for five consecutive quarters, which is the longest period of continuous growth since June 2008. Oil rose in price to the levels of 2014 based on reports of the absence of the intention of OPEC countries to increase production against the backdrop of a reduction in supplies of Iranian oil. During trading on Friday, Brent went up by 92 cents to 82 dollars 64 cents a barrel. The price of oil WTI rose by 85 cents to 72 dollars 97 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 ...
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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