Crude oil prices ended lower again on Tuesday, weighed by investors’ fears on a possible decrease in global demand due to the new strain of coronavirus. Consequently, Brent crude weakened by 1.6% to $50.08 a barrel, while WTI oil lost 2% to close at $47.02 a barrel.
read more... 23/12/2020
Crude oil futures fell on Monday, weighed down by new travel restriction measures imposed at British borders due to a new strain of coronavirus, reviving concerns over an unsteady recovery in global energy demand. Hence, Brent crude dropped by 2.6% to settle at $50.91 a barrel. Meanwhile, U.S WTI crude closed at $47.97 a barrel, posting a 2.3% loss on a daily basis.
read more... 22/12/2020
Progress related to the stimulus package in the United States lent support to oil prices on Friday. As such, Brent crude moved 1.5% higher to trade at $52.26 a barrel, while WTI oil rose by 1.5%, or 74 cents, to $49.10 a barrel.
read more... 21/12/2020
Crude oil prices continued their upward trend on Thursday, spurred by a larger-than-expected U.S. crude stockpile draw and by optimism about a coronavirus relief package in the United States and record-breaking refining demand in China and India. Hence, Brent crude rose by 42 cents, or 0.8%, to end at $51.50 a barrel. Meanwhile, WTI crude settled 54 cents, or 1.1%, higher at $48.36 per barrel. Both contracts closed again at nine-month highs.
read more... 18/12/2020
On Wednesday, the EIA reported a drop in crude stocks in the United States, thus lending support to oil prices. As a result, Brent crude increased by 0.6% to $51.08 a barrel, while WTI oil edged 0.4% higher at $47.82 a barrel.
read more... 17/12/2020