Crude Oil Oil prices were little changed on Tuesday as COVID-19 cases surged in the United States and Europe, counteracting optimism that arose over vaccine advancements. Brent crude settled 5 cents higher at $48.79 per barrel. WTI futures fell 16 cents to settle at $45.60 a barrel. The market is also closely watching U.S. lawmakers’ efforts to approve a new economic stimulus package needed to drive jobs growth and energy demand, and Friday was eyed…
Read MoreCrude Oil Oil prices fell around 1% on Monday as surging coronavirus cases and heightened tensions between the United States and China undermined the positive impact from an OPEC+ deal on production. Brent crude fell 46 cents to $48.79 per barrel. WTI futures fell 50 cents to settle at $45.76 a barrel. Prices came under pressure after Reuters reported that the United States was preparing to impose sanctions on at least a dozen Chinese officials over their alleged role…
Read MoreCrude Oil Brent crude oil futures rose more than 1% on Friday as expectations of a U.S. economic stimulus package and the possibility of a vaccine for the coronavirus overrode rising supply and increased COVID-19 deaths. Brent crude rose 54 cents to $49.25 per barrel. WTI futures rose 62 cents to settle at $46.26 a barrel. During the session, the Brent contract hit its highest since early March at $49.92. WTI touched a high of…
Read MoreCrude Oil Brent crude prices rose 1% to their highest since early March on Thursday after major oil producers agreed to increase output by a modest 500 kbpd from January. Brent crude rose 46 cents to $48.71 per barrel. WTI futures rose 36 cents to settle at $45.64 a barrel. That is the highest settle for Brent since March 5 – before most countries imposed lockdowns to stop the spread of coronavirus. OPEC+ will go…
Read MoreCrude Oil Oil prices settled higher on Wednesday on mounting expectations that producing countries will maintain output limits next year. Brent crude rose 83 cents to $48.25 per barrel. WTI futures rose 73 cents to settle at $45.28 a barrel. OPEC and Russia resume talks on Thursday in a bid to define policies for 2021 after an initial round of discussions this week failed to bring a compromise on how to tackle weak oil demand amid a second…
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