World Oil (Bloomberg) –Oil in New York surged past $81 a barrel after the International Energy Agency became the latest to say natural gas shortages are boosting demand for crude. WTI crude futures rose 1.5% to near the highest level since 2014. Record gas prices could add about 500,000 barrels a day of oil use over the next six months,
CNBC Oil prices moves lower on Tuesday, despite signs that producers are cutting output as promised and on signs of increasing demand as more countries ease out of curbs imposed to counter the coronavirus pandemic. The front-month contract for West Texas Intermediate crude, which is set to expire on Tuesday, fell 48 cents to trade at $31.34 per barrel. The
From Reuters Oil prices gained about 3% on Friday a day after recording their biggest daily drop in several years on U.S. President Donald Trump’s vow to impose more tariffs on Chinese imports. For the week, crude oil benchmarks recorded a loss. Washington’s new tariffs on China, due to take effect on Sept. 1, intensify the trade war between the
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