Oil prices showed growth on Monday amid continuing risks of supply disruptions. Because of the beginning of the workers' protest action, three deposits in the North Sea reduce oil production. The supply of oil by Saudi Arabia through the Bab-el-Mandeb Strait in the Red Sea has not yet been restored. The first round of sanctions against Iran, renewed by the United States, comes into force on August 4. September futures for Brent crude by 14:10 Moscow time went up by 30 cents to 74 dollars 59 cents a barrel. Prices for the September WTI oil rose 90 cents to 69 dollars 59 cents per barrel. Analysts at Barclays expect a significant increase in oil prices in the fourth quarter amid foreign policy of President Donald Tramp.
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 ...
On Tuesday, Tesla Inc.’s (TSLA.O) Chief Executive Officer Elon Musk announced that the automotive company would start to open its licensing software to supply powertrains and batteries for other car manufacturers. “Tesla is open ...
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 ...