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Over the past week, the price of Brent crude fell by 3.2%, WTI – by 2.8%. The decline in oil prices has been observed for three weeks in a row. It was caused by the strengthening of the dollar, the collapse of stock indices and concerns about surplus supply in the world market. The US currency on Friday strengthened to a maximum since May 2017 after the release of quarterly US statistics, which turned out to be better than expected. However, by 18:22 Moscow time on Friday, the price of Brent rose slightly – by 20 cents to 77 dollars 9 cents per barrel. At the same time, WTI crude fell 16 cents to 67 dollars 17 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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