String Of Bearish News Shifts Sentiment In Oil Markets
Oil prices fell below $40 for the first time since June as demand concerns grow and stock markets crash. For Global Energy Alert members there are now two new free Continue Reading
Oil falls 3%, posts weekly drop on demand concerns
Oil prices fell more than 3% on Friday and posted their biggest weekly decline since June as fears of a slow economic recovery from the COVID-19 pandemic compounded worries about Continue Reading
Labor Day Weekend Gas Prices Low, Bad Sign for Oil Recovery
U.S. drivers can look forward to cheap gasoline heading into Labor Day Weekend, spelling hard times ahead for an oil industry that’s already been clobbered by the coronavirus. Gasoline prices on Continue Reading
Oil Prices for Sep. 04, 2020: Brent Crude, WTI
Oil erased earlier losses as the dollar’s decline makes commodities more attractive, but crude was still headed for a weekly drop over demand concerns. Futures in New York rose 0.8% while Continue Reading
Oil Falls With Stronger Dollar and Oversupply Fears Looming
Oil dipped to its lowest level in nearly a month with a stronger dollar, looming extra supplies from Iraq and depressed demand all contributing to the bearish sentiment. U.S. benchmark crude Continue Reading
What Explains The Sudden Drop In Oil Prices?
Oil prices dropped on Thursday morning, extending losses from Wednesday’s close to the lowest levels in more than a month, after U.S. data showed gasoline demand is faltering despite major Continue Reading
Crude oil futures consolidate after overnight decline on weak demand outlook
Crude oil futures were rangebound during mid-morning trade Sept. 3 as the market clawed back some overnight losses, led by waning sentiment in a highly uncertain macroeconomic environment amid a Continue Reading
Oil prices at one-month low on demand worries
Oil prices extended losses on Thursday, falling to their lowest point since early August, as worries about weaker U.S. gasoline demand and a sluggish economic recovery from the COVID-19 pandemic Continue Reading
Oil Prices Hit Hard By Lower Refinery Runs
Oil prices took a tumble on Wednesday post-EIA report, despite a favorable crude inventory report that showed oil inventories in the United States had shrunk by nearly ten million barrels. Continue Reading
Crude oil futures climb on positive US economic data, stocks drawdown
Crude oil futures were higher during mid-morning Asian trade Sept. 2 as the US’ manufacturing data for August was stronger-than-expected and a private inventory report released late Sept. 1 showed Continue Reading