Crude Oil Oil fell nearly 2% on Friday, finishing lower for the week in anticipation of a surge in Libyan crude supply. Brent crude futures fell 69 cents to settle at $42.46 a barrel. WTI crude futures rose 61 cents to $40.64 per barrel. For the week, U.S. crude futures lost 2.5% and Brent futures shed 2.7%. Crude prices sank after Libya’s National Oil Corp (NOC) said it lifted force majeure on exports from key…
Read MoreCrude Oil Oil prices ticked up on Thursday, boosted by the possibility of an economic stimulus package in the United States. Brent crude futures rose 73 cents to settle at $42.46 a barrel. WTI crude futures rose 61 cents to $40.64 per barrel. Japan’s core consumer prices slipped for the second consecutive month in Sep’20, down 0.3% YoY, a sign that a coronavirus-induced demand downturn is piling deflationary pressure on the world’s third-largest economy already…
Read MoreCrude Oil Oil prices settled lower on Wednesday after U.S. inventory figures showed demand weakening for refined products as global COVID-19 cases spiked. Brent crude futures fell $1.43 to settle at $41.73 a barrel. WTI crude futures fell $1.67 to $40.03 per barrel. On Tuesday, Russia’s energy minister said it was too early to discuss the future of global oil production curbs beyond December, less than a week after saying plans to scale back output…
Read MoreCrude Oil Oil gained more than 1% on Tuesday on the prospect the United States was nearing a deal on coronavirus relief. Brent crude futures rose 54 cents to settle at $43.16 a barrel. November WTI crude futures rose 63 cents to settle at $41.66 a barrel. The more active December contract settled at $41.70, gaining 64 cents. Libya’s crude and condensate output has more than quadrupled over the past month, averaging just over 500…
Read MoreCrude Oil Oil prices continued their slow downward movement on Monday as Covid 19 cases surged unabated. Brent crude futures fell 31 cents to settle at $42.62 a barrel, and WTI crude futures dropped 5 cents to settle at $40.83 a barrel. Saudi Arabia, the biggest member of the OPEC, said no one should doubt the group’s commitment to providing support. Saudi Arabia’s crude oil exports rose for a second consecutive month to 5.97 MB/D…
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