Reuters LONDON – Oil prices were dragged sharply lower on Friday by weak U.S. fuel demand, fears of a second wave of coronavirus cases in South Korea and a worsening in U.S.-China relations, but were still on track for a hefty monthly gain. July Brent crude LCOc1 fell 72 cents, or 2%, to $34.57 a barrel by 1203 GMT and
Reuters Oil fell to around $30 a barrel on Wednesday as a report showing a higher-than-expected rise in U.S. inventories offset hopes for a recovery in demand as some countries ease coronavirus lockdowns. Brent crude has almost doubled since hitting a 21-year low on April 22, supported by expectations demand will recover and by a record supply cut led by
Reuters LONDON – Oil prices fell on Friday after rising 10% in the session as the coronavirus epidemic knocked the outlook for demand and Moscow rejected an intervention by U.S. President Donald Trump in Russia’s price war with Saudi Arabia. Brent crude futures LCOc1 were down 32 cents, or 1.1%, at $28.15 a barrel by 1331 GMT. Brent is on
Houston Chronicle Oil resumed declines as the biggest jump in U.S. crude stockpiles in almost three months added to concern over demand in a market already grappling with China’s spreading coronavirus. Futures lost as much as 2% in New York, trading near the three-month low just above $52 a barrel reached earlier this week. U.S. inventories rose by 3.5
