Oil prices rose on Monday as a cyberattack on key pipeline infrastructure in the US made up for bearish news over the pandemic’s further spread in Asia.
Oil prices are closing the week trimming some gains, but the market trend is positive and the price direction is mostly risk reduction by traders, who are also profiting from earlier gains.
Oil prices are rising today as a result of optimism for a coming demand uptick in key economies such as the US, China and the UK, and also assisted by a weak dollar; back to back gains pose a risk amid the worsening Covid-19 situation in India however.
Oil prices are on the rise today but the pandemic is hitting India hard and US crude stocks are forecast to build again.
Oil prices are ticking up today on trader hopes that OPEC+ may address India’s demand destruction with supply policy amendments in its coming meeting.
Oil prices are largely unchanged today as positive developments in the US and Europe face off with increasing Covid-19 infections in India.
Oil prices extended their losses on Thursday as the market priced in concerns over increasing Covid-19 infections in Asia and a surprise US crude stocks build.
Oil prices are set to close the week with notable gains as the market got a boost from positivity over the speed of the oil demand’s recovery.
Oil prices fell today as a result of a steep rise in gasoline stock levels in the US and concerns over the AstraZeneca vaccine future usage.
Oil prices rose on Wednesday as the market expects OPEC+ to keep a conservative output policy in the following day’s meeting, due to the speed lag of the oil demand recovery.