Crude oil prices recorded impressive gains amid high hopes that leading oil producers will suspend plans on increasing oil supply. Crude oil prices recorded impressive gains in barely four days, gaining as much as 12% amid high hopes that the world’s leading oil producers will suspend plans on increasing oil supply as soaring cases of […]
Brent oil futures gained 2.71% to $40.53 and West Texas Intermediate futures soared higher by 2.91% to trade $38.22. Crude oil prices rallied more than 2% after the outcome of the U.S. election became clear, with both Brent and WTI futures gaining above their critical support levels. However, the worsening COVID-19 attack and soft demand
Brent crude prices dropped over 1% trading at $40.68/barrel, while West Texas Intermediate also dropped over 1% to trade at $38.63. Crude oil prices fell significantly at the fourth trading session of the week amid macros coming from U.S election results showing presidential contender Joe Biden is within striking distance to clinch the U.S. presidency.
Oil traders go bearish, Joe Biden seems more likely to winRead More »
Brent crude traded above $40/Barrel gaining more than 2%. A positive showing in Trump’s hope for reelection has kept the price of Brent crude above the critical support level above $40/barrel. What we know; At the time of drafting this report, Brent crude traded above $40/Barrel gaining more than 2%. What this means; This is
BREAKING: Brent Crude up, Trump leads in Michigan, PennsylvaniaRead More »
The plunge in all prices is coming on worries of a swathe of COVID-19 lockdowns across emerged markets with softening fuel demand. Crude oil traders are under immense pressure as oil prices dropped more than 3% within a few hours ago. Brent crude plunged as much as 5.8% and the West Texas Intermediate lost as
The U.S oil-based contract, the major indicator used for U.S. crude prices, sold at 35.79 per barrel. Crude oil traders are presently under immense pressure, as they log in their worst monthly loss since March. The plunge in oil prices is coming on fresh restrictions placed on human mobility around Western Europe, in order to
Oil prices suffer worst monthly decline since MarchRead More »
Crude oil prices dropped more than 5% and falling below the key $40 per barrel support, at the American trading session mid-week. The slide is attributed to unexpectedly large U.S. crude oil inventories for last week reported by the government, which reinforced concerns about depleting demand for fuel amidst the worsening global outbreak of Covid-19.
Growing concern that oil supply could fall by 3% continues as a result of increasing cases of COVID-19 in the US and Europe. There is a growing concern that oil supply will fall by 3%, escalating last week’s losses as a result of growing cases of COVID-19 in the United States and Europe. This has
Oil supply feared to drop by 3%, as new cases of COVID-19 infections increaseRead More »
Crude oil prices ended the week mixed cumulatively amid surging Covid-19 caseloads. Crude oil prices ended the week mixed cumulatively amid surging Covid-19 caseloads, as oil traders pondered on what direction crude oil prices will go. What we know: American-based oil contract, West Texas Intermediate closed at $40.88 per barrel, gaining 0.7% on the week,
Crude oil prices end mixed W/W, oil traders grow waryRead More »
Crude oil prices held to gains after U.S. President, Trump resumed the White House from the hospital. Crude oil prices held to gains after U.S. Trump resumed back to the White House from hospital after being admitted for treatment for COVID-19 coupled with a pending storm waiting to hit the U.S. Gulf of Mexico. What
Crude oil prices hold gains, President Trump returns to workRead More »
