CRUDE OIL NEWS

Crude oil futures decline on low demand

New Delhi: Crude oil futures on Monday fell by 0.57 per cent to Rs 2,952 per barrel as participants reduced their positions on low demand.On the Multi Commodity Exchange, crude oil for October delivery eased by Rs 17, or 0.57 per cent, to Rs 2,952 per barrel with a business volume of 2,971 lots. Crude Read more

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Oil steady as surging virus cases cloud demand outlook

Oil prices were steady on Monday but on track for their first monthly fall since April as rising coronavirus cases continued to spur concerns about demand. Brent crude LCOc1 rose 12 cents, or 0.3%, to $42.04 a barrel by 1151 GMT. U.S. West Texas Intermediate CLc1 was at $40.36 a barrel, up 11 cents or Read more

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Oil dips on signs that coronavirus measures are slowing recovery

Oil slipped to near $40 amid signals that coronavirus restrictions will slow the economic recovery and on signs of increased supply. Futures fell as much as 0.7% in New York, after losing 2.1% last week in the third drop this month. The oil market’s recovery is expected to be long and gradual, Russia’s Energy Minister Read more

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Oil Price Rebound Stalls Ahead of Monthly High with OPEC

The price of oil trades in a narrow range as the rebound from the September low ($36.13) appears to have stalled ahead of the month high ($43.43), and signs of a protracted recovery may drag on energy prices as the Organization of the Petroleum Exporting Countries (OPEC) appear to be moving to the sidelines following Read more

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Oil prices are falling, ending the week in the red

Oil prices continue to decline and end the week in the red amid fears of lower demand due to the return of restrictive measures in a number of countries, including France and the UK, as well as signals of a possible increase in supply. The cost of November futures for Brent oil on the London Read more

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Oil Falls On Mounting COVID-19 Cases, Supply Concerns

NEW YORK: Oil edged lower on Friday, falling more than 2% on the week as COVID-19 cases surged globally and oil supply is set to rise in coming weeks.Brent crude futures settled at $41.92 a barrel, down 2 cents, while U.S. West Texas Intermediate (WTI) crude futures lost 6 cents to $40.25 a barrel. Brent Read more

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Oil price steady as rising European COVID-19 cases offset US oil stock draw

Brent futures settled US17 cents, or 0.4%, higher at $41.94 a barrel, while U.S. West Texas Intermediate (WTI) crude gained 38 cents, or 1.0%, to end at $40.31. (File pic: A Chevron refinery in the US – Reuters) NEW YORK: Oil prices were steady on Thursday as a new wave of coronavirus cases in Europe Read more

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Crude oil prices fall on fears of global energy demand

Crude oil prices dropped at Thursday’s trading session. This slide is attributed to recent poor E.U. economic data, and a lower-than-expected U.S. gasoline demand. Fears of a second wave of COVID-19 in emerged economies also weakened investors’ enthusiasm. What we know: Brent oil futures fell 0.57% to $41.53 by (6:40 AM GMT) and WTI futures Read more

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Oil Prices Rise After EIA Reports Crude Inventory Draw

24 Sept. 2020-Crude oil prices reversed their decline today after the Energy Information Administration reported an oil inventory draw of 1.6 million barrels for the week to September 18. This compares with a draw of 4.4 million barrels for the previous week. The report came a day after the American Petroleum Institute propped prices up Read more

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U.S. crude, fuel stocks fall in most recent week – EIA

24 Sept. 2020-U.S. crude stocks, gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday.Crude inventories fell by 1.6 million barrels in the week to Sept. 18 to 494.4 million barrels, compared with analysts’ expectations in a Reuters poll for a 2.3 million-barrel drop. Crude stocks at the Cushing, Oklahoma, delivery Read more

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Oil rises as U.S. storm eases, but demand worries linger

23 Sept. 2020-MELBOURNE: Oil rose in early trade on Tuesday, paring sharp overnight losses, as the latest tropical storm in the Gulf of Mexico lost strength, but worries about fuel demand persisted with flare-ups around the globe in coronavirus cases. U.S. West Texas Intermediate (WTI) crude futures for October, due to expire on Tuesday, rose Read more

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Oil prices recover despite increasingly nervous market

23 Sept. 2020-Oil prices recovered on Tuesday in a “nervous” market attentive to the demand for black gold, which could be seriously affected by possible new confinements.Around 9:35 AM GMT (11:35 AM in Brussels), a barrel of North Sea Brent for delivery in November was worth $41.99 (€35,76) in London, up 1.33% compared to the Read more

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Oil prices down 4% on expectations for return of Libyan crude production, global stock-market selloff

Oil futures fell Monday, sending U.S. prices down by more than 4%, on expectations Libyan crude will soon return to the market, while worries over a rise in European COVID-19 cases and a global equity market selloff added to the negative tone.“Oil prices are lower on turmoil, whether it be from mother nature or politics,” Read more

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Oil falls 5% as economic outlook dims with rising coronavirus cases

Oil prices plunged about 5 per cent on Monday, weakening as rising coronavirus cases stoked worries about global demand, and a potential return of Libyan production bolstered oversupply fears. Crude oil followed other equities and commodities markets in turning risk-averse on Monday as rising Covid-19 infection rates in Europe and other countries prompted renewed lockdown Read more

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Prices of Crude Oil Vulnerable Amidst Fading Demand, Oversupply Issues

The warning from Prince Abdulaziz bin Salman, Energy Minister in Saudi Arabia that he is going to whoever tries to play games with the oil market will pay the price, might not be taken seriously with the fading worldwide demand, as we head into another likely COVID-19 wave, indicate that the oil might be at Read more

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