Oil price news

Oil prices have swung to gains after road fuel demand signals and an upcoming OPEC+ meeting weighted positively on trader sentiments.

Oil prices have swung to gains after a morning flavoured by concerns over expected crude stock build in the US.

Oil prices are enjoying some stability now, after pricing in fears of a new pandemic wave and the OPEC+ cuts agreement.

Oil prices fell this morning, as traders priced in fears of a second round of Covid-19-related demand decline.

Oil prices lost ground this morning, as traders corrected last week’s exuberant gains, amid worries that Covid-19 will not let demand recover as quickly as hoped.

Oil prices have fallen as US stocks rise and as traders price in concerns about how quickly demand will return, fearing a second Covid-19 wave.

Oil prices fell this morning on indications that US stocks unexpectedly rose.

Oil prices fluctuated this morning, swinging from marginal gains to losses as traders price in Libya supply and a spike in new global Covid-19 cases.

Rystad Energy has said that OPEC+ has "taken a tighter grip on the near-term crude oil fundamentals with Saturday’s extension decision."

On Saturday, OPEC+ agreed to extend the deal to withdraw almost 10% of global supplies from the market by a third month to the end of July.