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During trading on Monday, oil prices rose on fears that the hurricane Florence, threatening the eastern coast of the United States, could prove to be one of the strongest this year, although the main oil producing areas in the Gulf of Mexico may remain unaffected. Traders are also concerned about the likely reduction in oil supplies from Iran amid information that South Korea has already stopped buying Iranian oil, fulfilling the demands of the US president. By 14:22 Moscow time on Monday, November futures for Brent crude went up by 58 cents to 77 dollars 41 cents per barrel. The cost of the October WTI futures contract rose 45 cents to 68 dollars 20 cents a barrel.
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 ...
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 ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
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