Tuesday, 1 December 2020

Tag Archives: oil prices

Oil Prices Crash On 2nd Wave Of Coronavirus

MANCHESTER: Oil has had a turbulent year. Crude prices went negative for the first time in history, followed by one of the biggest rallies the industry has ever seen. And now, just when the market is starting to seem somewhat stable, COVID-19 strikes again. A resurgence of COVID cases in ...

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Oil prices climbed with hopes

LONDON: Oil prices climbed on Friday as countries including Australia moved ahead with plans to relax economic and social lockdowns put in place to halt the coronavirus pandemic, kindling market hopes for a boost in demand for crude and its products. Brent crude was up by 87 cents, or 3 ...

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Oil extends gains as virus-hit economies ease curbs

SINGAPORE: Oil extended gains in Asia Tuesday on signs of improving demand as coronavirus-hit major economies begin to ease strict curbs and as top producers slash output. US benchmark West Texas Intermediate for June delivery was up 7.26%at $21.87 a barrel in morning trade. The contract ended about three percent ...

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Crude extends rally as output cuts begin

HONG KONG: Oil prices rose as massive output cuts began to kick in and top producers said they would turn the taps lower, while there were also hopes for a pick-up in demand as economies slowly reopen. After a diabolical month for the commodity in which the May WTI contract ...

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US oil falls below $11

NEW YORK: US oil nosedived below $11 a barrel Tuesday after a major exchange-traded fund started selling its short-term contracts of the commodity, and storage concerns mounted as the coronavirus strangles demand. West Texas Intermediate, the American benchmark, for June delivery dropped 14.8 percent to $10.88 a barrel in Asian ...

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Top oil producers agree on record output cuts

VIENNA: Top oil-producing countries agreed Sunday to record output cuts in order to boost plummeting oil prices due to the new coronavirus crisis and a Russia-Saudi price war. OPEC producers, dominated by Saudi Arabia, and allies led by Russia met via videoconference for an hour Sunday in a last-ditch effort ...

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Oil prices hit highest in 3 months

LONDON: Oil prices extended gains on Friday, scaling three-month highs as the United States and China moved closer to a resolution to the 18-month trade war between the world’s two biggest economies that has raised big questions about global demand for crude. Brent futures climbed 43 cents, or 0.7%, to ...

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Oil prices jump nearly 4% over attack on oil tankers

LONDON: The benchmark Brent Crude logged a steep jump of nearly 4 per cent over reports of attack on oil tankers in the Gulf of Oman. At 5.28 p.m., Brent was trading at $62.30 per barrel, or 3.89 per cent higher. The benchmark crude prices have remained flat for most ...

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Iran warns any clash in Gulf would push oil prices above $100

LONDON: US military vessels in the Gulf are within range of Iranian missiles, a top military aide to Iran’s Supreme Leader Ayatollah Ali Khamenei said on Sunday, warning any clash between the two countries would push oil prices above $100 a barrel. Iran and the United States have been drawn ...

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