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Oil prices stabilized on Tuesday after the collapse the day before. September futures for Brent crude by 15:01 Moscow time fell by 5 cents to 71 dollars 79 cents per barrel. The price of August futures for WTI oil by this time fell by 8 cents to 67 dollars 98 cents per barrel. Traders assessed the increase in production in Libya, the increase in exports by Iraq and the potential use of part of the strategic reserve of US oil. According to Bloomberg, Libya increased its production to 650,000 - 700,000 barrels a day and plans to increase it further. In the first half of June, oil exports of Iraq reached a record 4 million 50 thousand barrels per day from November 2016. Iran hopes to continue to supply oil thanks to measures taken by a number of countries seeking to preserve the Iranian nuclear agreement.
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 ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
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. ...
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