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On Friday, oil prices fell based on the statements of the US President, Donald Trump, that fuel prices are artificially inflated thanks to the efforts of OPEC. By 18:03 Moscow time, June futures for Brent crude fell 45 cents to 73 dollars 33 cents per barrel. The cost of WTI crude oil for delivery in May fell by 34 cents to 67 dollars 95 cents per barrel. The participants in the meeting of the ministers of the OPEC countries, held at that time in Saudi Arabia, expressed their disagreement with the statement of Donald Trump, pointing out that “prices determine the market”. At the same time, the main oil brands finished last week with weak growth: Brent went up by 1%, WTI - by 0.8%.
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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