Oil prices are down in on Thursday morning as concerns about increasing coronavirus cases in China, the world’s largest oil importer, weighed on futures markets and fears of more lockdowns in China drove fuel demand concerns. Brent crude futures down 37 cents, or 0.4%, to $104.95 a barrel. U.S. West Texas Intermediate crude futures down…
Oil prices came off three-month lows on Friday but were on track for a weekly decline of around 6% as new lockdowns in countries with low vaccination rates facing surging cases of the Delta variant dimmed the outlook for fuel demand. Broader investor risk aversion also weighed on oil with the U.S. dollar jumping to…
Oil prices dipped on Wednesday, a fifth day of declines with investors wary about prospects for stronger fuel demand as the use of rail, air and other forms of transport remained constrained amid surging COVID-19 cases worldwide. Brent crude was down 5 cents or 0.1% at $68.98 a barrel by 0139 GMT, having fallen 0.7%…
Oil prices climbed on Tuesday, clawing back some of the previous session’s deep losses, even though concerns over coronavirus curbs combined with slowing factory activity in key buyer countries to keep a lid on gains. Brent crude oil futures rose 24 cents, or 0.3%, to $73.13 a barrel, as of 0125 GMT. US West Texas…
Oil prices fell for a third day in a row to a two-week low on Wednesday on a surprise build in U.S. crude stockpiles, negative U.S. economic report and worries the spread of the coronavirus Delta variant will weigh on global energy demand. Traders noted the oil price drop came despite reports of increased Mideast geopolitical tensions. Brent futures…
Oil was fallen down Wednesday morning in Asia, falling for a third consecutive day as concerns about the increasing numbers of COVID-19 cases globally dampen the fuel demand outlook. Brent oil futures inched down 0.03% to $72.39 and WTI futures edged down 0.20% to $70.42. Both Brent and WTI futures fell on Tuesday to their lowest levels since…
Oil in Asia was lower on Friday morning but recorded solid gains at the end of the week and month. Fuel demand is growing faster than supply, while vaccination rates have mitigated the impact of the renaissance on Govt-19 cases worldwide. Brent oil futures were down 0.79% at $ 74.51 after rising 1.75% on Thursday….
Oil rose in Asia on Wednesday morning, leaving the U.S. An imbalance in crude supply increased, which strengthened expectations that fuel demand would outweigh supply growth. However, the increasing number of COVID-19 cases worldwide has made black liquid profitable. Brent oil futures rose 0.65% to $ 74 after scattering 2 cents during the previous session…
Oil in Asia fell on Friday morning, but caught up largely three days earlier, hoping rising demand would tighten global markets. Brent oil futures were down 0.37% at 5 73.52. WTI futures fell 0.38%. 71.64 and was down 0.3% in early Asian trade after accumulating more than 8% in the previous three sessions. Brent and…
U.S. Energy Information Management (EAA) U.S. Confirming an astonishing structure in the supply of crude oil, the rising Govt-19 cases reduce the global fuel demand outlook. However, the black liquid kept most of its gains from the previous session above expectations that products would be tight by the end of 2021. Brent oil futures rose…
