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On Friday, oil prices fell moderately based on expectations of the entry into force of additional US sanctions against Iran on November 4. Experts expect that this event will entail a drop in the supply of Iranian oil by about 1-1.5 million barrels per day. According to Bloomberg, the United States gave permission to 8 countries to continue the purchases oil in Iran. The agency also informed about the increase in oil production by 15 OPEC countries in October by 430 thousand barrels per day. All these factors affected the dynamics of oil prices. Over the past week, the Brent crude lost 6.4% of its value, WTI losses were 6.6%. On Friday, at 18:24 Moscow time, the price of Brent dropped by 20 cents to 72 dollars 69 cents per barrel. WTI oil fell 56 cents to 63 dollars 13 cents.
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 ...
Apple, Google, Amazon, and Facebook’s chief executive officers faced Republican and Democratic U.S. lawmakers on Wednesday for the much-anticipated congressional hearing. The CEOs were questioned for alleged abuse of their market power ...
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 ...
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