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Oil prices edged up on Monday as supply jitters and U.S. stimulus plans offset fresh concerns about the hit to global fuel demand from renewed lockdowns to curb spikes in COVID-19 infections. Brent Crude futures for March rose 34 cents, or 0.6%, to $55.75 a barrel by 1008 GMT. U.S. West Texas Intermediate crude for MarchRead More
Oil was down on Thursday morning in Asia, with investors digesting a small but surprising build in U.S. crude oil supplies that re-ignited fuel demand worries. Brent Oil Futures were down 0.37% to $55.87 by 10:02 PM ET (3:02 AM GMT) and WTI Futures fell 0.34% to $53.13. The black liquid gave up some of theRead More
Oil demand recovery will take a hit from a spike in new coronavirus cases before vaccine roll-outs and stimulus measures help in the second half of the year, International Energy Agency (IEA) said on Tuesday. “Border closures, social distancing measures and shutdowns…will continue to constrain fuel demand until vaccines are more widely distributed, most likelyRead More
U.S. shale producers are taking advantage of the oil market’s rally to levels not seen in nearly a year by locking in prices for future sales, sources familiar with the matter said. US CRUDE futures this month jumped above $50 a barrel to the highest since February. The rally has sparked optimism among shale companies, butRead More
Oil prices steadied after an early jump on Wednesday as industry data showing a bigger-than-expected drop in U.S.CRUDE inventories, but rising global COVID-19 infections capped price gains. BRENT CRUDE prices were down 4 cents at $56.54 a barrel by 1032 GMT. Prices rose to a session high of $57.42 a barrel earlier in the session, the highestRead More
Brent Crude Oil prices fell as much as $1 per barrel on Monday, hit by renewed concerns about global fuel demand amid tough coronavirus lockdowns across the globe, as well as a stronger U.S. dollar. Brent was down 80 cents, or 1.4%, at $55.19 a barrel at 1010 GMT, after falling $1 to a sessionRead More