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On Tuesday, oil prices updated a maximum of 3.5 years on investors' concerns about future supplies from Iran and Venezuela in connection with the prospects for the introduction of US sanctions against the two countries, according to MarketWatch. By 15:01 Moscow time, quotes of July futures for Brent crude rose by 38 cents to 79 dollars 60 cents per barrel. June futures for oil WTI went up by 19 cents to 72 dollars 43 cents per barrel. According to the experts, if the United States imposes sanctions on the Venezuelan oil sector, the problems in this sector will deepen, and oil supplies from the country will decrease. According to the US Secretary of State, Mike Pompeo, the United States will impose the most serious sanctions against Iran. In this case, supplies from Iran can be reduced by the amount from 400 thousand to 1 million barrels per day, Dow Jones writes.
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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