EghtesadOnline: Oil hit its highest since March on Tuesday, rising towards $47 a barrel, as a third promising coronavirus vaccine spurred hopes of a quicker recovery in economic growth and oil demand next year.
EghtesadOnline: Oil rose towards $46 a barrel on Wednesday, near the highest since March, lifted by US producers shutting most of their offshore Gulf of Mexico output ahead of Hurricane Laura and a report showing a drop in US crude inventories.
EghtesadOnline: Oil rose above $30 a barrel on Monday for the first time in two months as producers in the US and elsewhere continued to cut output.
EghtesadOnline: The magnitude of how damaged the energy industry is came into full view on April 20 when the benchmark price of U.S. oil futures, which had never dropped below $10 a barrel in its nearly 40-year history, plunged to a previously unthinkable minus $38 a barrel.
EghtesadOnline: Crude prices in America’s oil capital are getting dangerously close to zero.
EghtesadOnline: Oil prices rose a further 2% on Monday, pushing Brent above $70 a barrel, as rhetoric from the United States, Iran and Iraq fanned tensions in the Middle East after a US air strike which martyred a top Iranian military commander in Iraq.