Oil prices slid on Friday, dragged down by concerns that a spike in COVID-19 cases in Europe and the United States is curtailing demand in two of the world’s biggest fuel consuming regions, while a stronger U.S. dollar also added to pressure. ›
Oil prices fell on Thursday, paring gains from earlier in the session, as a resurgence in COVID-19 infections across the globe underpinned concerns over economic growth and a recovery in fuel demand. ›
The October 2020 edition of the Energy Services newsletter is now available! ›
Oil prices rose on Tuesday, recovering some ground from falls of nearly 3% in the previous session, drawing support from robust China data, although concerns about supply resumption in Norway, the U.S. Gulf of Mexico and Libya still weighed on the market.
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Oil prices dropped 1% for a second straight session on Monday as U.S. producers began restoring output post-Hurricane Delta, and after a labour strike affecting Norwegian production came to an end.
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Oil prices rose on Thursday as oil workers evacuated rigs in the U.S. Gulf of Mexico ahead of Hurricane Delta, though fuel demand concerns persisted on fading chances for a U.S. economic stimulus deal and after a build in U.S. crude inventories.
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Oil prices fell on Wednesday after U.S. President Donald Trump dashed hopes for a fourth stimulus package to boost the coronavirus-hit economy and on a larger-than-expected increase in U.S. crude inventories.
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Oil prices gained on Tuesday due to fears that refineries could be hit by a storm brewing in the Gulf of Mexico, while buyers also drew relief from U.S. President Donald Trump’s return to the White House after being treated for COVID-19 in hospital.
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Oil prices rose more than 2% on Monday, lifted by comments from doctors for U.S. President Donald Trump suggesting he could be discharged from hospital as soon as Monday, just a few days after his positive coronavirus test sparked widespread alarm.
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Oil prices rose on Thursday as renewed hopes for U.S. fiscal stimulus provided support but worries over rising infections hampering fuel demand could cap gains.
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