Oil price news

Oil prices hold on to their gains as another weekly crude storage relief is expected to be announced by the US API institute today, a day before OPEC+ meets.

Oil prices swung to losses, scrapping earlier morning gains, as renewed concerns over the global oil demand outlook outpaced the enthusiasm that another week of stock draws from US inventories brought.

Oil prices fell on Friday as traders corrected the extravagant gains of this week, pricing in concerns over Covid-19’s effect on the demand recovery.

Oil prices rose on Wednesday on expectation for a significant draw in US crude oil stocks last week, but Covid-19 remains a concern.

Oil prices rose a bit today, correcting some of yesterday’s losses, which were more a sign of shock on economic collapse figures. Nevertheless, traders brace for August, a month of returned production from OPEC+ amid stalled demand recovery.

Oil prices are falling today, with traders ignoring yesterday’s US crude stock news and acknowledging Covid-19’s threat to the demand recovery, while waiting for OPEC’s returned production to hit the market again.

Oil prices are seeing modest gains today as surprisingly high oil stock draws are expected in the US, but the rise is capped by concerns over a coming imbalance from August.

The study offers subsurface interpretation for the entire offshore East Coast Canada.

Oil prices remain largely stable but concerns abound, while the market braces for some OPEC+’s curtailed production to return soon.

Oil prices fell on Monday, taking a hit by concerns over Covid-19’s continuous expansion and due to the latest US-China tensions saga.