Crude Oil Crude futures surged for a second day on Fridaydue to hopes that a global deal to cut crude supply worldwide will emerge early next week. Brent crude futures rose $ 4.17 to settle at $ 34.11 /bbl. WTI futures rose $3.02 to $28.34 a barrel. Both U.S. and Brent contracts posted their largest weekly percentage gains on record. Brent ended the week 36.8% higher, the largest weekly percentage gain in the contract’s history.…
Read MoreCrude Oil Crude prices posted their biggest-one day gains on record on Thursday after President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut. Brent crude futures fell $ 5.20 to settle at $ 29.90 /bbl. WTI futures rose $5.01 to $25.32 a barrel. President Trump said he had spoken to Saudi Crown Prince Mohammed bin Salman, and expects Saudi Arabia and Russia to cut oil output by…
Read MoreCrude Oil Oil prices fell on Wednesday after U.S. crude inventories rose last week by the most since 2016, while gasoline demand suffered its biggest weekly drop ever due to the coronavirus pandemic. Brent crude futures fell $ 1.61 to settle at $ 24.31 /bbl. WTI futures fell 17 cents to $20.31 a barrel. Russian President Vladimir Putin called on Wednesday for global oil producers and consumers to address “challenging” oil markets while U.S. President…
Read MoreCrude Oil Brent crude plunged to its cheapest level in almost 18 years on Monday and U.S. crude briefly tumbled below $20 a barrel as investors faced the growing prospect that the global coronavirus shutdown could last for months. Brent crude futures fell just 2 cents to settle at $22.74 a barrel ahead of expiry. The more active June contract too fell just 7 cents to settle at $ 26.35 /bbl. WTI futures rose 39…
Read MoreCrude Oil Brent crude plunged to its cheapest level in almost 18 years on Monday and U.S. crude briefly tumbled below $20 a barrel as investors faced the growing prospect that the global coronavirus shutdown could last for months. Brent crude futures fell $2.17 to settle at $22.76 a barrel, the lowest close since November 2002. WTI futures fell $1.42 to to $20.09 a barrel, the lowest close since February 2002. Declining demand and swiftly…
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