Global Crude Oil Price Inches Up On Manufacturing Data, Surge In Demand

[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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High Net Worth Middle East Investors Most Cautious After Oil Slump, COVID-19: Barclays

[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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India’s April Crude Processing Sees Biggest Drop Since At Least 2003

[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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Oil Prices Tumble Due To Demand Shock Amid Coronavirus Restrictions

[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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Oil Falls As Crude In U.S. Storage Nears All-Time High

[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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Two Indian Refiners Cut Mideast Crude Purchases In May: Report

[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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Oil Prices Recover Ground After Plunging To The Lowest Level In History

[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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US Oil Prices Crawl Back To Positive Territory After Record Fall Below $0/Barrel

[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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