Crude Oil Oil prices fell about 1% on Friday on renewed concerns about crude demand being pinched by the economic impact of the Covid 19 outbreak. Brent futures fell 81 cents to settle at $58. a barrel. WTI crude futures settled 45 cents higher at $53.38 a barrel. Both benchmarks were on track for their second consecutive weekly rise, with Brent up 2% and U.S. crude rising 2.6%, as fears over the virus’ impact on…
Read MoreCrude Oil Oil prices were up slightly on Thursday after the U.S. government reported a much smaller-than-anticipated rise in crude stocks. Brent futures rose 19 cents to settle at $59.31 a barrel. WTI crude futures settled 45 cents higher at $53.78 a barrel. The more-active second-month WTI benchmark was up 45 cents at $53.94 a barrel. Gains were capped by worries about the spread of the Covid 19 outside China. The death toll from the…
Read MoreCrude Oil Oil prices gained more than 2% on Wednesday as worries eased about demand declining due to the spread of coronavirus cases in China. Brent futures rose $1.37 to settle at $59.712 a barrel. WTI crude futures settled $1.24 higher at $53.29 a barrel. Wall Street reached new highs on optimism China would stimulate its economy and counteract the impact of the outbreak. China is expected to cut its benchmark lending rate on Thursday…
Read MoreCrude Oil Oil prices were near flat on Tuesday, pressured by concerns over the impact on crude demand from the coronavirus outbreak in China. Brent futures rose 8 cents to settle at $57.75 a barrel. WTI crude futures were unchanged from Friday’s setted at $52.05 a barrel. The Covid 19 virus is having a wider impact on financial markets. Asian shares fell and Wall Street also retreated after Apple Inc said it would miss quarterly…
Read MoreCrude Oil Oil prices continued rising on Monday, as investors bet the economic impact of the coronavirus would be offset by deeper production cuts by the OPEC+ group.. Brent futures rose 35 cents to settle at $57.67 a barrel. WTI crude futures were up 23 cents at $52.28 a barrel. The US was closed due to the President’s day holiday. There are some indications of prompt demand for oil as the front-month Brent futures market…
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