Tag Archives: Oil prices

oil prices

Oil prices fall as rising coronavirus case numbers cast shadow over fuel de...

08 August, 2020 9:58 am 9:58 am

SINGAPORE (Reuters) – Oil prices slid on Tuesday amid concerns that a nascent recovery in fuel demand could stall as a fresh wave of COVID-19 infections around the world sparks tighter lockdowns just as major producers ramp up output. US West Texas Intermediate (WTI) crude futures fell 30 cents, or 0.7% to $40.71 a barrel … Read More


Oil falls on supply glut fears as OPEC+ set to boost output

08 August, 2020 10:16 am 10:16 am

TOKYO (Reuters) – Oil prices fell on Monday on oversupply concerns as OPEC and its allies wind back production cuts in August and a rise in worldwide COVID-19 cases points to a slower pick-up in fuel demand. Brent crude futures slid 26 cents, or 0.6%, to $43.26 a barrel by 0253 GMT. U.S. West Texas … Read More

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Oil ticks up, but gains capped by demand destruction

07 July, 2020 9:45 am 9:45 am

SINGAPORE (Reuters) – Oil prices ticked higher on Thursday, although gains were limited by a surprise increase in US crude oil reserves as the coronavirus pandemic hit fuel consumption. US crude and distillate inventories rose unexpectedly and fuel demand slipped in the most recent week, the Energy Information Administration said on Wednesday, as a sharp … Read More

oil prices

Oil prices drop on demand recovery fears amid US virus surge

07 July, 2020 10:07 am 10:07 am

MELBOURNE (Reuters) – Oil prices fell around 2% in early trade on Tuesday on worries that new clampdowns on businesses to stem surging coronavirus cases in California and other US states could threaten the nascent recovery in fuel demand. US West Texas Intermediate (WTI) crude CLc1 futures slid 84 cents, or 2.1%, to $39.26 a … Read More

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Oil prices mixed as coronavirus cases rise again

07 July, 2020 10:17 am 10:17 am

SINGAPORE (Reuters) – Oil prices showed a mixed market reaction on Monday, with Brent crude edging higher, supported by tighter supplies as the United States recorded a spike in coronavirus cases over the weekend. Brent crude LCOc1 rose 18 cents, or 0.4%, to $42.98 a barrel by 0252 GMT after a 4.3% gain last week, … Read More


Oil prices fall as surge in coronavirus cases raises demand concerns

06 June, 2020 10:06 am 10:06 am

SINGAPORE (Reuters) – Oil prices fell around 1% on Thursday as a spike in new coronavirus cases in China and the United States renewed fears that a recovery in fuel demand could stall, even as lockdowns ease. Brent crude LCOc1 futures fell 0.9%, or 37 cents, to $40.34 a barrel at 0423 GMT, having fallen … Read More

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British inflation hits near four-year low in April as oil prices crash

05 May, 2020 10:06 pm 10:06 pm

LONDON (AFP) – British inflation hit a near four-year low in April as oil prices crashed, official data showed Wednesday, with the rate set to slide further as the coronavirus slashes prices generally. The Consumer Prices Index (CPI) annual rate slumped to 0.8% last month from 1.5% in March, the Office for National Statistics said … Read More

Oil Prices US price plunge turmoil fuels Brent prices

Oil prices recover ground after market turmoil fuels price plunge

04 April, 2020 8:30 am 8:30 am

TOKYO (Reuters) – Oil prices found some respite on Wednesday as US oil futures rose more than 20% and Brent prices steadied after a two-day price plunge, as markets struggle with a massive crude glut amid the coronavirus outbreak. After falling into negative territory for the first time in history amid record trading volumes, US … Read More

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Petrol, diesel prices likely to register historic decrease of Rs50-70 per l...

04 April, 2020 12:03 pm 12:03 pm

ISLAMABAD (92 News) – After decline in oil prices in the global market, industry sources said that the petrol prices is likely decrease and possibility of Rs50 to Rs70 per liter. Ministry of Petroleum and OGRA officials are consulting about the reduction of petrol prices after price cut in global market. World market observed record … Read More

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Oil prices bounce back, US crude futures trade above zero

04 April, 2020 8:42 am 8:42 am

SEOUL (Reuters) – Oil prices rebounded on Tuesday, with US crude turning positive after trading below $0 for the first time ever, but gains were capped amid unresolved concerns about how the market can cope with fuel demand decimated by the coronavirus pandemic. US West Texas Intermediate (WTI) crude for May delivery was up $38.73 … Read More

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Oil prices persistently low as WTI goes below 2002 levels

04 April, 2020 7:56 pm 7:56 pm

LONDON (AFP) – Oil prices extended their slump Wednesday, with WTI hitting the lowest level since 2002 as planned output cuts were deemed insufficient to offset a coronavirus-fuelled slump in demand. The benchmark WTI contract tumbled to $19.20 per barrel, the lowest level in 18 years. Shortly after, around 0920 GMT, WTI was down 2.3% … Read More

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Asia shares suffer virus chills, central banks offer what they can

03 March, 2020 8:35 am 8:35 am

SYDNEY (Reuters) – Asian shares slid on Monday and oil prices took another tumble as fears mounted that the global shutdown for the coronavirus could last for months, doing untold harm to economies despite central banks’ best efforts. “We continue to mark down 1H20 global GDP forecasts as our assessment of both the global pandemic’s … Read More

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Oil prices rebound 6% after rout, but outlook volatile

03 March, 2020 9:55 am 9:55 am

SINGAPORE (Reuters) – Oil prices bounced around 6% on Tuesday, but analysts saw little chance of a major recovery from the biggest daily rout in nearly 30 years after top producers Saudi Arabia and Russia launched a price war. Crude was supported by hopes for a settlement and potential US output cuts, but gains could … Read More

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Spike in oil prices vanished as Trump offered peace to Iran

01 January, 2020 11:08 pm 11:08 pm

WASHINGTON (AFP) – The spike in oil prices vanished on Wednesday as US President Donald Trump offered peace to Iran, hours after it fired missiles at military bases in Iraq that housed American troops, reported AFP. Oil prices slid 4.6 per cent New York oil prices slid 4.6 per cent while Texas crude oil WTI, … Read More

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Oil prices slip as weak China exports highlight trade war impact

12 December, 2019 9:19 pm 9:19 pm

LONDON (Reuters) – Oil prices fell on Monday after data showed Chinese exports declined for a fourth straight month, sending jitters through a market already concerned about damage being done to global demand by the trade war between Washington and Beijing. Brent futures were down 44 cents, or 0.68%, at $63.95 per barrel by 0935 … Read More