Oil futures dropped at its last trading session, contributing to a second weekly loss for crude oil prices as President Donald Trump’s COVID-19 diagnosis raised further concerns over a slowdown in the global economy. “Rising coronavirus cases across the globe fan fears around slowing world growth and pace of demand recovery,” said Lukman Otunuga, senior […]
Brent crude was down 48 cents, or 1.17%, after falling more than 3% on Thursday. Oil prices continued their decline for the second day in a row, as rising crude oil production from OPEC comes amid a worsening COVID-19 pandemic which threatens to bring more restrictions on movement and consumption, and will likely hit demand
Oil price drop continues over increased OPEC supplies and decline in demandRead More »
Oil futures fell precipitously on Wednesday amid mounting fears of oil demand recovery. Crude oil prices dropped lower at Asia’s trading session on Wednesday. The price plunge in the hydrocarbon commodity is attributed to oversupply fears, as U.S. refineries are beginning to shed labor force. Brent oil futures dropped 1.17% to $40.55 by 4.57 GMT
Oil traders are concerned about the blurred demand outlook in the short term. Oil prices dragged lower at Monday’s trading session in Asia. Traders are deeply worried over rising COVID-19 cases upsetting hopes for a smooth recovery in energy demand, with both main oil benchmarks on track for their first monthly declines in multiple months
In Thursday’s trading session, Crude oil prices fell. Crude oil prices dropped at Thursday’s trading session. This slide is attributed to recent poor E.U. economic data, and a lower-than-expected U.S. gasoline demand. Fears of a second wave of COVID-19 in emerged economies also weakened investors’ enthusiasm. What we know: Brent oil futures fell 0.57% to
Crude oil prices fall on fears of global energy demandRead More »
Oil benchmarks fell around 4% on Monday following rising concerns of increased coronavirus cases. Crude oil prices drifted lower at the later part of Asia’s trading session on Tuesday, as Tropical Storm Beta in the Gulf of Mexico weakened. What we know: Brent oil futures were down by 0.31% to $41.31 at the time this
Crude oil prices drop again after losing 4% on MondayRead More »
To truly diversify from oil and create proper value, agriculture must give birth to an industry. Over the years, Nigerians have clamored for a diversified economy, that is not over-reliant on crude oil. Recently there have been several talks about agriculture being on the front-burner of our exports. But the reality is that there is
U.S. West Texas Intermediate fell by 1.57%, to trade at 39.53/barrel, after gaining 4.9% yesterday. Crude oil prices dropped at Asia’s trading session on Thursday morning, after rising in the two previous sessions. The slide was attributed to growing concerns on oversupplies after it re-emerged that some oil installations around the Gulf of Mexico are
Crude oil prices drop on fears of oil glut, OPEC meets todayRead More »
Crude oil prices are expected to recover slowly once economic activities rebound globally. Crude oil prices remained relatively stable at Tuesday’s trading session. Investors and oil traders stayed cautious, ahead of an OPEC+ meeting scheduled for Thursday. At the time this report, Brent crude futures were a bit down by 0.1% to trade at $39.57,
Crude oil prices stay stable, but remain under $40/barrelRead More »
Brent lost 6.6% for the week, adding to the previous week’s drop of 5.3%. Crude oil prices closed with a second week of losses, which left the energy market down by more than 10%, over the past two weeks. The slide comes higher than the predicted crude Inventories in the world’s largest economy, and caused
Crude oil prices post more than 10% losses in 2 weeksRead More »
