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The oil falls, but the feeling is strong in the hope of recovery as needed

Manikandan Fastura4 years ago04 mins

Crude oil stocks fell for the fourth week in a row Crude fell on Tuesday as investors paid for the latest rally, but market sentiment remained firm in hopes of a quick recovery in oil demand in the US and European markets and a return on Iranian crude. Brent crude futures for August were down…

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  • Commodity Market
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Oil reaches two-year high in OPEC + discipline, optimism

Manikandan Fastura4 years ago04 mins

Brent topped $ 72 a barrel for the first time since 2019 as it faced concerns about an overall COVID-19 vaccine release worldwide, such as OPEC + supply discipline and recovery in demand. The Organization of the Petroleum Exporting Countries and its allies said they would abide by the supply restrictions agreed on Tuesday. A…

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  • Commodity Market
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Oil rises as demand increases and suppliers keep supply tight

Manikandan Fastura4 years ago04 mins

Oil prices rose for a third day on Thursday in anticipation of rising fuel demand by the end of this year, especially in the US and Europe, and China, while large manufacturers have been adhering to supply discipline. After reaching its highest level since September 2019, Brent crude futures rose 40 cents, or 0.6%, to…

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  • Commodity Market
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Oil is set for weekly losses in Iran nuclear talks

Manikandan Fastura4 years ago03 mins

Oil prices rose on Friday after three days of losses as investors dared to withdraw Iranian crude supplies after officials said Iran and world powers had made progress on the nuclear deal. By 1017 GMT, Brent crude was up 80 cents, or 1.2%, to $ 65.91. The West Texas Intermediate was $ 62.82 a barrel,…

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