Oil prices rose for the third consecutive day on Wednesday after industry data showed that U.S. crude oil inventories fell far more than expected last week. It is strengthening the bullish view of fuel demand in the world’s largest economy. At 0704 GMT, U.S. West Texas Intermediate crude oil futures rose 43 cents, or 0.7%, …
Last Friday, oil prices remained largely stable due to the support of the European economic recovery. However, India expressed concern about a record surge in the number of coronavirus infections. At 1335 GMT, Brent crude oil fell 2 cents, or less than 0.1%, to $65.38 per barrel, while the U.S. West Texas Intermediate crude oil …
Oil Prices Keep Stable with European Recovery Support Read More »
Germany has raised its growth forecast for 2021 to 3.5%. A source said this in comparison with the 3% growth it was expecting back in January. A stronger-than-expected Q4 justified the upward revision. The government expected the country to expand by 3.6% in 2022, the source added. On Tuesday, the government is due to present …
Germany Revises Growth Forecast; Commodities Up; Oil Down Read More »
Oil prices rose on Friday due to hopes that fuel demand in the U.S. and Europe will rebound as economic growth rebounds and the lockdown slows. However, India’s worries about the raging second wave of COVID-19 cases hindered the rise. At 0137 GMT, Brent crude oil futures rose 21 cents, or 0.3%, to $65.61 a …
Oil Demand Recovers, but India’s COVID Numbers Surge Read More »
Oil prices are quite unstable lately. The prices move up and down. Recently, the oil stuck at around $60 per barrel. Two market sources say that crude oil and distillate stocks increased as of the week of April 16. According to sources, crude oil inventories have increased by 436,000 barrels. However, the oil prices fell …
Oil prices fell on Thursday but were trading near their highest level in a month. They were sustained by more optimistic forecasts for demand issued this week by the International Energy Agency and OPEC. The world economy recovers from the coronavirus pandemic. Brent crude futures were down 14 cents, or 0.09%, at $66.48 a barrel, …
Crude oil has received a substantial boost and broke above the consolidation zone where it was stuck. The WTI was very strong during the trading session on Wednesday. Partially, it was due to inventory data released showing a significant drop in reserves. It was a bullish sign that supports the idea that the economy is …
During Tuesday’s session, WTI crude oil prices have risen very slightly and have continued to swing around the $60 range. The oil continues uphill, and WTI is up 1.10% on Wednesday. It reached $61.28, the highest level since April 4. It is trading around $61.10, holding on to recent gains. A combination of factors helped …
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