Crude Oil Oil prices fell on Friday and were on track for a fourth straight weekly loss on mounting worries about economic damage from the coronavirus. Brent crude futures fell 13 cents to settle at $58.16 a barrel. WTI crude futures fell 58 cents to settle at $51.56 a barrel. For the week, Brent lost 4% while WTI lost 4.8% Global equity markets were poised for their first monthly loss since August and Wall Street’s…
Read MoreCrude Oil Oil prices fell more than 2% on Thursday to the lowest in three months on concerns over the potential economic impact of the coronavirus. Brent crude futures fell $1.52 to settle at $58.29 a barrel. WTI crude futures fell $1.19 to settle at $52.14 a barrel. During the day, Brent hit a low of $57.71, its lowest since Oct. 8 while WTI hit a low of $51.66 a barrel, its weakest since Oct.…
Read MoreCrude Oil Oil prices were mixed on Wednesday as fears about the coronavirus outbreak battled with fear about deeper or longer cuts by the OPEC. Brent crude futures rose 30 cents to settle at $59.81 a barrel. WTI crude futures fell 15 cents to settle at $53.33 a barrel. Financial markets are trying to assess economic fallout as the virus spreads out of China where the death toll continues to rise, while airlines cut flights…
Read MoreCrude Oil Oil futures edged up on Tuesday after falling for five days, gaining support from a rebound in Wall Street stocks. Brent crude futures rose 19 cents to settle at $59.51 a barrel. WTI crude futures 34 cents to settle at $53.48 a barrel. Prices may have also benefited from talk that OPEC and its allies might tighten the market. OPEC wants to extend current oil output cuts until at least Jun’20 from Mar’20, with…
Read MoreCrude Oil Crude futures sank to three-month lows on Monday as the death toll from China’s coronavirus grew. Brent crude futures fell $1.32 to settle at $59.32 a barrel. WTI crude futures fell $1.05 to settle at $53.14 a barrel. The prospect of the virus curtailing travel and generally slowing oil demand spooked the market considerably. Brent crude settled settled at its lowest since Oct. 21. U.S. crude last settled lower on Oct. 2. Global…
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