EghtesadOnline: Oil prices came off seven-week lows on Monday but remained under pressure after Japan said it was weighing releasing oil reserves and as the Covid-19 situation in Europe worsened, raising concerns about both oversupply and weak demand.
EghtesadOnline: Oil prices were steady on Monday with investors and traders awaiting crucial talks by OPEC+ following disagreement over output within the group that could lead to major producers pumping up volumes to grab market share.
EghtesadOnline: Oil prices soared on Monday to their highest in about 13 months as fears of heightened tensions in the Middle East prompted fresh buying, while hopes that a US stimulus and an easing of lockdowns will buoy fuel demand provided support.
EghtesadOnline: Oil prices held steady on Monday as a better than expected quarterly rebound for China’s economy countered fears over soaring Covid-19 cases around the world and tight restrictions that could dent economic growth and fuel consumption.
EghtesadOnline: Crude oil futures fell on Monday, with US futures touching levels not seen since 1999, extending weakness on the back of sliding demand and concerns that US storage facilities will soon fill to the brim amid the coronavirus pandemic.
EghtesadOnline: Oil prices fell on Monday, after Saudi Arabia and Russia delayed a meeting to discuss output cuts that could help alleviate global oversupply as the coronavirus pandemic pummels demand.
EghtesadOnline: Oil prices extended declines on Monday, dragged down by worries about lower demand in the world’s largest oil importer China following the coronavirus breakout.
EghtesadOnline: The letter of association drawn up to clarify the terms of cooperation between OPEC and non-OPEC members is not binding and will not impact the half-a-century old organization.
EghtesadOnline: Oil prices dropped by more than one % on Friday as clouds gathered over the global economy after the European Central Bank (ECB) warned of continued weakness and fresh data showed Chinese exports and imports slumped last month.