Official data show that economic activity and throughput in China are lagging. Oil prices fell more than 1% on Monday, meaning new strains of COVID-19 colossal impact the world economy. The price of Brent oil fell by 1.3%, 90 cents per barrel, to $ 69.69. U.S. crude fell 1.4 percent, or 97 cents, to $ …
Fluctuation in Chinese Demand and Decreasing Oil Prices Read More »
After the International Energy Agency said that the demand for oil and its products has slowed down, Brent oil price fell 0.7% to $ 70.82 a barrel, after falling to 13 cents. According to the latest data, U.S. oil prices fell by 0.8%; shares fell 0.2% on the barrel on Thursday. The benchmarks are improving …
Delta Variant Demand Recovery – Oil Extends Losses Read More »
Oil prices dipped on Thursday as the International Energy Agency (IEA) warned that the spread of the coronavirus’s Delta variant would stymie global demand recovery. Brent oil futures were down 26 cents, or 0.36 percent, at $71.18 a barrel by 11:21 a.m. GMT, after reaching a session high of $71.90 earlier. West Texas Intermediate (WTI) …
Oil prices have stabilized since the United States, a leading oil consumer, called on major producers to increase production as economies ease restrictions on the coronavirus. According to the statistics, Brent crude futures slipped by 0.2%, to $71.27; a barrel by 0650 GMT, after previous rising to a session high of $71.69. WTI crude futures …
Oil Price Stabilization: U.S. Demand that is Causing Concern Read More »
Oil prices rose in tandem with broader equity gains, indicating that investors believe global economic growth will continue even after COVID-19’s resurgence. On Tuesday, in New York, futures rose 2.7 per cent, the most in more than two weeks. Stocks in the United States and Europe reached new highs on expectations that economic growth will …
On Tuesday, oil prices increased more than 1%. This recouped some of the previous session’s losses when prices hit a three-week low. Gains are likely to be restricted because mounting COVID-19 cases and Chinese curbs may dampen fuel demand. Brent crude was up 84 cents, or 1.2 per cent, at $69.88 a barrel by 0656 …
Oil prices plummeted 4% on Monday. It extended the previous week’s sharp losses on the back of a strengthening U.S. currency and concerns about new coronavirus-related restrictions in Asia. Particularly China could hinder a worldwide recovery in fuel demand. A severe warning from a United Nations panel on climate change added to the sombre atmosphere …
Oil prices rose on Wednesday, buoyed by a drop in US inventories and geopolitical concerns in the Middle East. Gains limits by the rapid spread of the coronavirus Delta type in major consuming countries. By 0815 GMT, Brent crude oil futures were up 33 cents, or 0.5 per cent, to $72.74 per barrel. West Texas …
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