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The prices for benchmark crude oil fell on Wednesday afternoon based on data on unexpected growth of fuel stocks in the USA. According to the American Petroleum Institute, commercial oil reserves in the US last week rose by 3 million 660 thousand barrels. Pressure on the market is also confirmed by Bloomberg, reporting that Libya increased oil production by 40-50% compared with July to more than 1 million barrels per day. October futures for Brent crude by 15:13 Moscow time fell by 60 cents to 71 dollars 86 cents per barrel. The price of the September WTI futures contract fell by 70 cents to 66 dollars 34 cents per barrel by that time.
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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