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The fall in oil prices intensified on Wednesday based on data on the unexpected growth of oil reserves in the United States. Last week, oil reserves in the US increased by 5 million 600 thousand barrels, distillates - by 2 million 900 thousand barrels, data of the American Petroleum Institute showed. At the same time, gasoline reserves in the USA decreased by 791 thousand barrels. Quotes of October futures for Brent crude by 14:53 Moscow time fell by 1 dollar 17 cents to 73 dollars 4 cents per barrel. September futures for WTI oil fell 90 cents to 67 dollars 86 cents a barrel. By the end of July, oil prices fell by a record 7% in two years.
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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