Oil price news

Oil prices fell today as traders corrected the high levels that consecutive boosts created in previous days.

Oil prices rose today on indications that supply has been sufficiently curtailed to balance demand and on news that US storage filling levels have dropped.

Oil prices have reached stable levels and are staying in the more comfortable US$30-35 range.

Oil prices rose again this morning as the promised production cuts seem to be realised and on signs that demand is indeed picking up globally.

Oil prices rose this morning as governments lift lockdown measures and demand increases around the world.

Oil prices rose this morning, stabilising above US$30 Brent, as traders welcomed a hinted demand recovery and saw a slight decrease in US stock builds.

Oil prices rose this morning as US onshore stock builds fell for the first time since January.

Oil prices fell this morning as traders curbed their enthusiasm about new cuts from the Middle East, due to an emerging possibility of increased lockdown periods fearing a possible second Covid-19 wave.

Oil prices rose this morning as Saudi Arabia’s move, accompanied by Kuwait and the UAE, to expand production cuts boosted the market’s confidence.

From June, Saudi Arabia is cutting an extra 1 million bpd, the UAE an extra 100 000 bpd, and Kuwait an extra 80 000 bpd.