Crude Oil Oil prices once again rose over 1% on Friday, posting their first weekly gain since early January as investors bet the economic impact of the coronavirus would be short-lived. Brent futures rose 98 cents to settle at $57.32 a barrel. WTI crude futures rose 63 cents to settle at $52.05 a barrel. Brent rose 5.23% for the week while WTI rose 3.2%. This was the first weekly increase in six weeks. Brent has…
Read MoreCrude Oil Oil prices rose around 1% on Thursday as speculators placed bets on the OPEC+ group cutting output further. Brent futures rose 55 cents to settle at $56.34 a barrel. WTI crude futures rose 25 cents to settle at $51.42 a barrel. The death toll from the COVID-19 in mainland China rose to 1,489 (+121 DoD) yesterday, with the total number of confirmed infections at 63,918 (+4,036 DoD). The virus’s effect on energy markets…
Read MoreCrude Oil Oil prices rose over 3% on Wednesday as China reported its lowest daily number of new Covid 19 cases since late January, as per Reuters reports. Brent futures rose $1.78 to settle at $55.79 a barrel. WTI crude futures rose $1.23 to settle at $51.17 a barrel. The highest settles for both futures since January came even as U.S. government reported a larger-than-expected weekly build in crude inventories. The death toll from the…
Read MoreCrude Oil Oil prices rose about 1% on Tuesday, up from 13-month lows as the number of new coronavirus cases slowed in China. Brent futures rose 74 cents to settle at $54.01 a barrel. WTI crude futures rose 37 cents to settle at $49.94 a barrel. The death toll from the COVID-19 in mainland China rose to 1,114 (+97 DoD) at the end of Tuesday. Across China, the total number of confirmed infections was 44,726…
Read MoreCrude Oil Oil prices fell to their lowest level since December 2018 on Monday on weaker Chinese demand in the wake of the coronavirus outbreak. Brent futures fell $1.20 to settle at $53.27 a barrel. WTI crude futures fell 75 cents to settle at $49.57 a barrel. Brent futures registered their lowest close since Dec. 28, 2018, while WTI registered their lowest close since Jan. 7, 2019. That keeps both Brent and WTI in oversold territory for…
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