Reuters NEW YORK – Oil prices fell about 2% on Friday, pressured by swelling output from Libya and fears that rising coronavirus infections may slow the recovery in the global economy and fuel demand. Hopes for a vaccine kept crude futures on track for a second straight weekly gain. Brent crude was down 73 cents, or 1.7%, at $42.80 a
Reuters LONDON – Oil fell towards $40 a barrel on Friday as new lockdowns in Europe to halt surging COVID-19 infections sparked concern over the demand outlook while drawn-out vote counting in the U.S. election kept markets on edge. Italy recorded its highest daily number of COVID-19 infections on Thursday while cases surged by at least 120,276 in the United
Reuters NEW YORK – Oil prices dropped on Thursday, weighed down by the steady rise in coronavirus infections and as the outcome of the U.S. presidential election had still not been settled. Brent crude LCOc1 fell 41 cents, or 1%, to $40.81 a barrel by 12:24 EDT (1724 GMT) and U.S. West Texas Intermediate (WTI) crude CLc1 was down 50 cents, or 1.3%, at
Reuters LONDON – Oil prices fell on Wednesday after U.S. President Donald Trump dashed hopes for a fourth stimulus package to boost the coronavirus-hit economy, with prices also pressured by a larger than expected rise in U.S. crude inventories. Brent crude LCOc1 futures were down $1.05, or 2.5%, to $41.60 a barrel by 1403 GMT and U.S. West Texas Intermediate (WTI) crude CLc1 declined
CNBC Oil prices fell on Thursday as major producers warned of a risk to demand recovery if the coronavirus crisis is prolonged, while U.S. crude inventories dropped less than expected. Brent crude was down 47 cents, or 1%, at $44.90 a barrel, having slipped 0.2% in the previous session. U.S. oil was down 43 cents, or 1%, at $42.50 a barrel, after inching
Reuters LONDON – Oil prices fell on Wednesday, as record high inventories and worries about a second wave of the coronavirus pandemic outweighed support from a gradual reopening of global economies. Brent crude was down 66 cents, or 1.5%, to $41.97 a barrel by 1349 GMT, a day after hitting its highest level since a price plunge began in March.
Reuters LONDON – Oil prices fell on Monday as concern grew that a record rise in global coronavirus infections could stall recovery in fuel demand, outweighing tighter supplies from major producers. Brent crude LCOc1 was down 24 cents, or 0.6%, at $41.95 a barrel by 1141 GMT. The West Texas Intermediate (WTI) crude contract for August CLc2, which became the
Reuters LONDON – Oil fell more than 1% to below $41 a barrel on Wednesday after a report showed a rise in crude inventories in the United States, reviving concerns about oversupply and weak demand because of the coronavirus crisis. The report from the American Petroleum Institute, an industry group, said crude stocks rose by 8.4 million barrels, rather than
Reuters LONDON – Oil prices were dragged sharply lower on Friday by weak U.S. fuel demand, fears of a second wave of coronavirus cases in South Korea and a worsening in U.S.-China relations, but were still on track for a hefty monthly gain. July Brent crude LCOc1 fell 72 cents, or 2%, to $34.57 a barrel by 1203 GMT and
Reuters Oil fell to around $30 a barrel on Wednesday as a report showing a higher-than-expected rise in U.S. inventories offset hopes for a recovery in demand as some countries ease coronavirus lockdowns. Brent crude has almost doubled since hitting a 21-year low on April 22, supported by expectations demand will recover and by a record supply cut led by
Reuters LONDON – Oil prices fell on Friday after rising 10% in the session as the coronavirus epidemic knocked the outlook for demand and Moscow rejected an intervention by U.S. President Donald Trump in Russia’s price war with Saudi Arabia. Brent crude futures LCOc1 were down 32 cents, or 1.1%, at $28.15 a barrel by 1331 GMT. Brent is on
Houston Chronicle Oil resumed declines as the biggest jump in U.S. crude stockpiles in almost three months added to concern over demand in a market already grappling with China’s spreading coronavirus. Futures lost as much as 2% in New York, trading near the three-month low just above $52 a barrel reached earlier this week. U.S. inventories rose by 3.5
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