Crude Oil Oil futures settled sharply lower on Tuesday, with Brent sinking below $40 a barrel for the first time since June and U.S. crude falling nearly 8% after Saudi Arabia cut its October selling prices and COVID-19 cases rebounded in several countries. Brent crude fell $2.23 to settle at $39.78 a barrel, while WTI crude fell $3.01 to $36.09 per barrel. These are the lowest prices seen for Brent since June. China will impose…
Read MoreC,550rude Oil Oil prices fell on Monday after Saudi Arabia made its deepest monthly price cuts to supply for Asia in five months. Brent crude fell 65 cents to settle at $42.01 a barrel, while WTI crude fell 67 cents to $39.10 per barrel after hitting $38.55, its lowest since July 10. Trading was thin due to the Labour Day holiday on Monday in the US. Saudi Aramco lowered its Oct’20 OSPs for crude supplies…
Read MoreCrude Oil Oil prices fell more than 3% on Friday and posted their biggest weekly decline since June as fears of a slow economic recovery from the COVID-19 pandemic compounded worries about weak oil demand.. Brent crude fell $1.41 to settle at $42.66 a barrel, while WTI fell $1.60 to $39.77 per barrel. Brent fell 5.3% from last week, while WTI lost 7.4%. Saudi Aramco lowered its Oct’20 OSPs for crude supplies to Asia and…
Read MoreCrude Oil Oil prices settled lower on Thursday, at one point touching their lowest since early August as U.S. unemployment data fed fears of a slow recovery for the economy. Brent crude fell 36 cents to settle at $44.07 a barrel, while WTI 14 cents to $41.37 per barrel. Both benchmarks had fallen more than 2% earlier in the session. U.S. stock prices sank after Labor Department data showed the number of Americans filing new…
Read MoreCrude Oil Oil fell more than 2% on Wednesday, reversing early gains after a report showed gasoline demand fell in the United States in the latest week. Brent crude fell $ 1.15 to settle at $44.43 a barrel, while WTI fell $ 1.25 to $41.51 per barrel. Other data also fed fears that economic recovery from the coronavirus pandemic was lagging. U.S. private employers hired fewer workers than expected for a second straight month in…
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