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Oil prices have been falling for 7 weeks in a row. Previously, such a long period of decline was noted in 2015. Over the past week, Brent fell by 12%, WTI - by 9.6%. Bloomberg reported that the options for sale exceeded the options for purchase in the next 12 months, showing the maximum value in the entire history of observations, which was due to weakening demand and expectations of growth in supply. At the same time, the growth of oil production in Saudi Arabia reached a record size. Brent crude ended Friday with a fall by 3 dollars 87 cents to 58 dollars 73 cents a barrel. WTI crude oil fell by 3 dollars 59 cents to 51 dollars 4 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 ...
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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