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Following the results of last week, the price of Brent crude rose by 1.5%, WTI - by 1.4%. In the oil market, there was an increase in price volatility at the maximum rate since May amid a decline in supplies from Iran and Venezuela, as well as an increase in production in Saudi Arabia, Russia and the United States. At the same time on Friday, November futures for Brent fell 20 cents to 77 dollars 98 cents a barrel. The cost of the October futures for WTI crude oil rose by 9 cents to 68 dollars 68 cents per barrel. Dow Jones agency writes that, according to forecasts of many analysts, the rally of oil prices is coming to an end. In addition, according to OPEC, there are risks of weakening demand in developing countries.
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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