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The suspension of oil production in the Gulf of Mexico due to the approaching hurricane “Michael” raised concerns about a possible shortage of fuel in the market and pushed oil prices to further increase. It is expected that hurricane “Michael” moving to the US coast may intensify to the third category on the Saffir-Simpson scale. In 34 districts of Florida a state of emergency was declared. By 17:04 Moscow time on Tuesday, the price of Brent crude futures for December delivery rose 37 cents to 84 dollars 28 cents per barrel. WTI November futures rose 22 cents to 74 dollars 51 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 ...
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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