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The Associated Press, based on information from Saudi Arabia, reported that two oil tankers in the country suffered significant damage as a result of sabotage. At the same time, victims and oil spills were avoided. The threat to the free movement of fuel, which arose in one of the key regions of the world, caused a sharp jump in oil prices. The price of Brent crude oil to 15:47 Moscow time on Monday rose by 1.84%, amounting to 71 dollars 92 cents per barrel. WTI crude oil rose 1.64% to 62 dollars 67 cents a barrel. The concern of market participants was also caused by the completion of trade negotiations between the US and China without signing an agreement. Washington announced the introduction of higher duties on goods from China, and the Ministry of Finance of China in response announced plans to increase import duties on some goods from the United States.
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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