Houston Chronicle Oil rebounded after plunging to the lowest level in 18 years as policy makers across the globe try to strengthen economies against the impact of the coronavirus pandemic. Futures rose as much as 18% in New York, the most since December 2008, following a 24% rout in the previous session. Prices have cratered over the past two weeks
Reuters Oil prices bounced nearly 7% on Thursday after a three-day selloff drove them to their lowest in almost two decades as demand plummeted due to the coronavirus and supplies surged in a fight for market share between Russia and Saudi Arabia. Benchmark Brent, which has lost half its value in less than two weeks, got some respite as investors
Reuters LONDON – Oil prices fell on Friday as a rise in new cases of coronavirus and weak Asian data fuelled uncertainty about the economic outlook while leading crude producers appeared to be in no rush to curb output. Brent crude LCOc1 was down $1.06, or 1.8%, at $58.25 a barrel by 1258 GMT, while U.S. crude CLc1 dropped 84
Houston Chronicle A five-day rally in oil prices ended as investors found new reasons to worry about how fuel demand will be affected by the impact of Asia’s deadly coronavirus. Brent futures fell 1.8% to trade below $57 a barrel in London. Citigroup Inc. said that markets are overconfident in expecting a v-shaped recovery and oil prices are likely to
Reuters NEW YORK – Oil prices edged higher on Thursday, as investors hoped the world’s biggest producers would cut output more, while they largely shrugged off forecasts of slumping demand due to the coronavirus outbreak in top oil importer China. Brent crude LCOc1 was up 58 cents, or 1.04%, at $56.37 a barrel by 12:20 p.m. ET, while U.S. West
Reuters LONDON – Oil prices jumped by more than 4% on Wednesday after media reports that scientists had developed a drug against the fast-spreading coronavirus that continues to weigh heavily on global economic activity. The World Health Organization played down the media reports, saying there are “no known effective therapeutics” against the virus. Lending further support to oil was news
Reuters LONDON – Oil prices clawed back ground on Tuesday on hopes for additional production cuts from OPEC and its allies to offset any potential demand drop triggered by the coronavirus outbreak. Brent crude was up 93 cents, or 1.7%, at $55.38 a barrel by 1335 GMT, while U.S. West Texas Intermediate (WTI) crude stood at $51.31 after a 2.4%
Houston Chronicle Oil headed for its biggest monthly drop since May as Asia’s coronavirus spread, stoking concerns that demand for transportation fuels will shrink. Futures were little changed in New York on Friday, after sliding to a five-month low on Thursday, as the World Health Organization declared the outbreak a global health emergency. Prices have slumped 14% in January as
Reuters LONDON – Global oil benchmark Brent crude rose to more than $64.50, recovering from four days of declines on easing Middle East tensions, as the United States and China prepared to sign a preliminary trade deal. Brent crude LCOc1 gained 43 cents, or 0.7%, to $64.63 a barrel by 1507 GMT. U.S. West Texas Intermediate crude futures CLc1 rose
Reuters HOUSTON – Oil prices fell about 1% on Monday as Middle East tensions eased and investors turned their focus to lackluster seasonal demand following a bearish U.S. report last week showing a large gasoline stockbuild. Brent crude LCOc1 was down 64 cents at $64.34 per barrel at 9:59 a.m. CST (1559 GMT), while West Texas Intermediate (WTI) crude CLc1
CNBC Oil prices would skyrocket if Iran moved to completely cut off the Strait of Hormuz, energy analysts told CNBC on Wednesday. Elevated geopolitical tensions have sparked fears of a widening conflict in the Middle East, with energy market participants increasingly concerned that the fallout could soon disrupt regional crude supplies. It has thrust the world’s most important oil chokepoint back
Reuters NEW YORK – Oil prices were flat on Thursday, supported by signs of improving Washington-Beijing trade relations and rising tensions in the Middle East but pressured by a strong U.S. dollar. Brent crude futures LCOc1 were unchanged at $66.00 a barrel by 1:33 p.m. EST (1833 GMT), while U.S. West Texas Intermediate (WTI) crude CLc1 was 17 cents lower
