Crude Oil Oil prices tumbled over 5%, or more than $2 a barrel on Wednesday, after U.S. crude storage hit another record and coronavirus cases rebounded in countries like Germany and surged in heavily populated areas of the United States. Brent crude settled at $40.31 a barrel, down $2.32. WTI crude futures settled at $38.01 a barrel, down $2.36. The United States had its second-largest rise in infections since the pandemic began. Mounting infections there…
Read MoreCrude Oil Oil futures slipped on Tuesday as the market braced for reports expected to show swelling U.S. crude inventories. Brent crude settled at $42.63 a barrel, down 45 cents. WTI crude futures settled at $40.37 a barrel, down 36 cents. Prices rose early, after U.S. President Donald Trump wrote in a tweet late Monday that the trade agreement with China was “fully intact”. Markets had been unsettled by surprise comments from White House trade…
Read MoreCrude Oil Oil was up 2% on Monday on tighter crude supplies from major producers and as coronavirus lockdowns kept easing despite a record rise in cases globally. Brent crude settled at $43.08 a barrel, up 89 cents. The WTI crude contract for August , the day’s more-active contract, settled at $40.73 a barrel, rising 90 cents. Ballooning virus cases in the United States and elsewhere kept prices from moving higher. South Korea said on…
Read MoreCrude Oil Oil prices rose on Friday but pulled back sharply from early highs on concerns that continued spread of the novel coronavirus could stall the United States’ economic rebound. Brent futures rose 68 cents to settle at $42.19 a barrel. WTI crude rose 91 cents to settle at $39.75 a barrel. U.S. crude rose 8.7% this week, while Brent is up 9%. In a further sign of market recovery, Brent on Thursday moved into…
Read MoreCrude Oil Oil prices settled lower on Wednesday as US crude stocks rose again and doubts about the pandemic continued. Brent futures fell 25 cents to settle at $40.71 a barrel. WTI crude fell 42 cents to settle at $37.96 a barrel. OPEC+ technical experts made no recommendation on further extending a record oil supply cut in talks on Wednesday and decided to focus on compliance of laggards in the deal ahead of ministerial talks…
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