Category: oil

Oil prices fell on Monday, unnerved by the prospect that a recovery in fuel demand could be derailed by a rise in the pace of coronavirus infections around the world. Brent crude LCOc1 was down 25 cents, or 0.6%, at $42.89 a barrel, after dropping slightly last week. U.S. oil was off by 22 cents, […]

Oil prices fell today on concerns about scarce storage capacity and global economic doldrums from the coronavirus pandemic.  US oil futures led losses, falling by more than $2 a barrel on fears that storage at Cushing, Oklahoma, could reach full capacity soon.  US West Texas Intermediate June futures fell $2.86, or 16.88%, to $14.08 a […]

Oil prices were broadly steady today but were headed for their third weekly loss as production shutdowns failed to keep pace with sliding demand due to the coronavirus crisis.  Brent crude was up 18 cents, or 0.84%, to $21.51 so far today, having risen 5% yesterday, while US oil was steady at $16.50 a barrel, […]

Oil prices extended their gains today amid signs that producers are cutting production to cope with a collapse in demand for fuel as the coronavirus outbreak ravages the world’s economies.  Brent crude was up 33 cents, or 1.6%, at $20.70 a barrel in early trade after rising more than 5% yesterday.  US West Texas Intermediate […]

Brent crude oil rose today after slumping below $16 a barrel to its lowest since 1999, supported by voluntary as well as the prospect of forced production cuts to tackle a glut caused by the coronavirus crisis.  This month, OPEC+ agreed new oil output curbs but global measures to prevent the virus spreading have driven […]

Oil prices were set for their worst weekly drubbing since the 2008 financial crisis, despite eking out a 2% today, as investors eyed evaporating demand from the coronavirus pandemic and a production ramp-up by top producers.  Brent crude was up 70 cents, or 2.1%, at $33.92 in early trade after falling more than 7% on […]

Crude prices dropped below $60 for the first time in nearly three months today, as the death toll from China’s coronavirus rose and more businesses were forced to shut down, fuelling expectations of slowing oil demand. Brent crude was down $1.40 a barrel at $59.29 this afternoon to mark its lowest since late October and […]

Energy costs here fell by 4% in October, driven by weaker oil prices the latest Bord Gáis Energy Index has found. Oil fell by 3% over the period because of lower demand caused by the weakening global economy and despite the attack on Saudi oil infrastructure in the middle of September. Because oil makes up […]

Oil falls as US, China add more tariffs in trade war Oil prices weakened this morning after new tariffs imposed by the US and China came into force, raising concerns about a further hit to global growth and demand for crude. Brent crude slipped 22 cents, or 0.4%, to $59.03 a barrel this morning, while […]