[ad_1] Brent crude went up 59 cents on Wednesday Oil prices rose on Wednesday on a string of positive manufacturing data and a drawdown in US crude inventories, both indicating an economic recovery and rise in energy demand despite surging coronavirus infections around the world. Brent crude was up 59 cents, or 1.4 per cent, to […]
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[ad_1] OPEC, Russia and other countries have agreed to extend production cuts OPEC, Russia and allies agreed on Saturday to extend record oil production cuts until the end of July, prolonging a deal that has helped crude prices double in the past two months by withdrawing almost 10 per cent of global supplies from the market. […]
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[ad_1] Oil prices remain at depressed levels despite a pickup this month London: High net worth individuals in the Middle East have become the most risk averse among wealthy investors in emerging markets after being hit by the oil price crash, according to an executive at Barclays private bank. The banks’ rich clients across emerging […]
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[ad_1] Crude oil processing in April slumped by 28.8 percentfrom a year earlier India’s crude oil processing in April slumped by 28.8 percent from a year earlier, its biggest drop since at least 2003, as a nationwide lockdown weighed on fuel demand and forced refiners to cut production. Refiners processed about 14.75 million tonnes or 3.60 […]
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[ad_1] U.S. West Texas Intermediate (WTI) crude futures were off 14.7 per cent, or $1.88 cents Melbourne: Oil prices slumped on Tuesday, extending the previous session’s slide, on worries about limited capacity to store crude worldwide and expectations that fuel demand may only recover slowly as coronavirus pandemic restrictions are gradually eased. U.S. West Texas […]
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[ad_1] Oil futures marked their third straight week of losses last week Singapore: Oil prices fell on Monday on signs that worldwide oil storage is filling rapidly, raising concerns that production cuts will not be fast enough to catch up with the collapse in demand from the coronavirus pandemic. U.S. oil futures led losses after […]
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[ad_1] This is the second consecutive month that Indian refiners have sharply cut imports At least two Indian refiners have curbed oil imports from key Middle East producers, including Saudi Arabia, for May due to storage constraints as local fuel demand slumped following the coronavirus outbreak, company officials said. This is the second consecutive month […]
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[ad_1] West Texas Intermediate was up $2.05, or 18 per cent, at $13.62 a barrel by 0034 GMT. Tokyo: Oil prices found some respite on Wednesday as U.S. oil futures rose more than 20 per cent and Brent prices steadied after a two-day price plunge, as markets struggle with a massive crude glut amid the […]
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[ad_1] The prices of June oil futures contracts continued to trade above $20 per barrel Crude Oil Crash: US crude oil futures turned negative for the first time ever on Monday, as the coronavirus pandemic and resultant lockdowns have paralysed the world economy and caused apprehensions about a swift return to growth. West Texas Intermediate […]
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[ad_1] The price of a barrel of crude varies based on factors such as supply, demand and quality. The price of a barrel of benchmark U.S. oil plunged below $0 a barrel on Monday for the first time in history, a troubling sign of an unprecedented global energy glut as the coronavirus pandemic halts travel […]
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