Oil price news

Oil prices extended their gains on Wednesday as Covid-19 vaccine euphoria continues to drive markets, assisted by a report that US crude stockpiles have decreased further than expected for another week.

Oil prices recover as the uncertainty over the US election result subsides, but the market has challenges to face in weeks ahead.

Oil prices have not taken a definite direction today, hovering around the low levels that Covid-19’s second wave brought upon the market this week.

Oil prices continued their free fall for a second day in a row as the market finally corrected itself, pricing in the full impact of a second wave of Covid-19.

Oil prices, after a long period of enjoying +US$40 levels, finally fell below the threshold.

Oil prices rose today as US production is hit by yet another hurricane, but the gains may prove to be short-lived due to the worsening Covid-19 pandemic.

Oil prices remained mostly unchanged on Friday, despite an overall bearish sentiment caused by the pandemic, with the only bullish note coming from Russia.

Oil prices fell today as a projected rise in US crude oil inventories raised concerns in the market that the supply-demand balance is deteriorating.

Oil prices have swung towards both sides today, due to the uncertainty that the OPEC+ meeting created, and as the US election is coming closer and closer.

Oil prices fell today on bearish Covid-19 news, but anticipation of the OPEC+ meeting and crude inventory draws still provide support.