Fears of China’s slowing development and potential future increases in U.S. interest rates lowering fuel consumption in the two largest economies in the world caused oil prices to decline in early trade on Thursday, extending losses to a fourth straight session. While U.S. West Texas Intermediate crude (WTI) was down 39 cents, or 0.49%, to…
After weaker-than-expected economic data from the United States and China, the two biggest oil consumers in the world, the price of oil plummeted for a second day on Wednesday. This came after a surprising increase in U.S. crude stocks raised demand fears. Brent crude futures decreased by 29 cents, or 0.4%, to $74.60 a barrel….
On Monday, oil prices increased by more than 1% as a crucial pipeline that supplies the US remained closed and Russian President Vladimir Putin threatened to reduce production in retaliation for a Western export price ceiling. By 0300 GMT, the price of Brent crude futures had risen 30 cents, or 0.4%, to $76.40 per barrel….
Early on Tuesday, oil prices barely changed as concerns about supply outweighed concerns about the economy and China’s adherence to its zero-COVID policy. U.S. West Texas Intermediate (WTI) crude increased 7 cents, or 0.1%, to $91.86 per barrel while Brent crude increased 7 cents, or 0.1%, to $97.99 a barrel by 0155 GMT. On Monday,…
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…
Brent crude is down $ 1.08 or 1.5% Oil prices fell more than $ 1 a barrel on Monday after OPEC + group of producers agreed to overcome internal divisions and boost production, sparking some concerns about crude surpluses as covid-19 infections continue to rise in many countries. After falling nearly 3% last week, Brent…
Data showing that China’s crude imports have declined in the first half of 2021 has raised fuel demand. However, the black liquid is still close to a week high as supply concerns persist with the economic recovery from COVID-19. Brent oil futures rose 0.34% to $ 76.23 during the previous session. WTI futures were down…
