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Oil prices rose sharply on Tuesday due to fears about the impending Gordon storm in the Gulf of Mexico, as well as a more significant reduction in supplies of Iranian oil in connection with US sanctions. Because of the bad weather, oil company Anadarko Petroleum evacuated workers and suspended operations on two platforms in the Gulf of Mexico. The price of November futures for Brent crude by 14:17 Eastern European time rose by 1 dollar 12 cents to 79 dollars 27 cents per barrel. October futures for WTI oil by this time went up by 1 dollar 33 cents to 71 dollars 13 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 ...
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 ...
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 ...
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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