Wednesday, OPEC has reconfirmed its intentions to continue cutting production, thus supporting crude oil prices amid Covid-19 and demand worries. As a result, Brent crude for January delivery closed 1.4% up at $44.34 a barrel, while WTI crude edged 0.9% higher at $41.82 a barrel.
read more... 19/11/2020
Crude oil prices surged on Monday after Moderna’s report on the progress in its Covid-19 vaccine boosted the whole energy complex, with investors reacting to the prospect of life returning to pre-pandemic levels. Hence, Brent crude soared by $1.04, or 2.4%, to settle at $43.82 per barrel. At the same time, U.S. WTI crude climbed by $1.21, or 3%, to end at $41.34 per barrel.
read more... 17/11/2020
Oil prices edged lower on Thursday as OPEC sees a gloomy outlook on demand for black gold. Losses, however, have been limited, as the EIA report showed a larger-than-expected drop in crude stocks in the United States. Brent crude for December delivery traded 0.4% lower at $43.16 a barrel, while WTI oil slipped by 0.2% to $40.96 a barrel.
read more... 16/10/2020
Slightly larger-than-expected U.S. crude inventories and fading hopes for another stimulus package to support the coronavirus-hit economy weighed on oil prices declined on Wednesday Hence, Brent crude decreased by 1.6% to $41.99 a barrel. Meanwhile, WTI futures lost 1.8% to trade at $39.95 a barrel.
read more... 08/10/2020
Oil prices rose slightly on Wednesday amid a drop in US crude and fuel stocks. Still, a rise in the numbers of Covid-19 cases globally limited gains. As a result, Brent crude rose by 4.2% to settle at $42.22 a barrel. Meanwhile, WTI futures hiked by 4.9% at $40.16 a barrel.
read more... 24/09/2020