Crude Oil Oil settled higher on Monday. Brent crude settled up 59 cents at $44.99 a barrel, while WTI rose 72 cents to $41.94 per barrel. The talks between Democrats and the Trump administration broke down last week. China’s factory deflation eased in July, driven by a rise in global oil prices and as industrial activity climbed toward pre-pandemic levels. OPEC’s 13 countries produced 23.39 MB/D of crude oil in Jul’20, a S&P Global Platts survey found,…
Read MoreCrude Oil Oil prices hovered below five-month highs on Thursday, falling after a session in which bearish sentiment about fuel demand counteracted optimism about Iraq’s supply cuts, pushing the benchmarks in and out of positive territory. Brent crude settled down 8 cents at $45.09 a barrel, while WTI fell 24 cents to $41.95 after a four-day streak of gains. The dollar index logged its biggest monthly percentage fall in a decade in July. The index…
Read MoreCrude Oil Oil prices rose to their highest since early March on Wednesday after U.S. crude inventories fell sharply and the dollar weakened. Brent crude settled 74 cents higher at $45.17 per barrel, while WTI rose 49 cents to $42.19 a barrel. Rising prices come against the backdrop of a surge in coronavirus cases which could threaten a recovery in fuel demand. Global coronavirus deaths surpassed 700,000 on Wednesday, with the United States, Brazil, India…
Read MoreCrude Oil Brent oil futures on Tuesday closed at their highest since early March on hopes the United States is making progress on a new economic stimulus package. Brent crude settled 28 cents higher at $44.43 per barrel, while WTI rose 69 cents to $41.71 a barrel. US shale oil producer Continental Resources on Tuesday said it plans to resume most curtailed production, adding prices need to rise further for a significant rebound in overall…
Read MoreCrude Oil Oil prices were up more than 1% on Monday. Brent crude settled 65 cents higher at $44.15 per barrel, while WTI rose 74 cents to $41.01 a barrel. Oil prices were up more than 1% on Monday on positive economic data from the US, Europe and Asia, but investors remained concerned about rising COVID-19 cases globally and oversupply as OPEC begins to lift supply cuts. Venezuela’s overall oil production rebounded to an average…
Read More