Oil price news
Oil prices steady as Covid-19 concerns offset by positive Chinese economic data
Oil prices are steady after early losses, as traders put hopes on China’s economy, a positive note against renewed Covid-19 concerns.
Oil gains trimmed as market gets rationalised
Oil prices fell on Thursday, trimming excess gains as the impact of increasing Covid-19 infections to oil demand sinks in.
Oil gains on market tightness but gains are at risk as Covid-19 infections rise
Oil prices rose on Wednesday, boosted by expectations that Saudi Arabia’s extra cuts will create a tight market, but there is a downside Covid-19 risk as infections rise.
Oil rises on low supply confidence
Oil prices gained on Tuesday, squeezing the last dollar cents from optimism the promised Saudi cut and the OPEC meeting created last week.
Oil rises on back of production cuts, falling crude inventories
Oil prices, and especially WTI, rose on Thursday as a result of the promised Saudi production cuts, falling crude inventories and political turmoil in the US.
Oil gains on Saudi Arabian voluntary output cut
Oil prices rose on Wednesday, capitalising on Saudi Arabia’s promised voluntary output cut from February.
Oil prices rise on OPEC+ meeting and Gulf tensions
Oil prices rose on Tuesday after Monday’s OPEC+ conservatism and helped by rising tensions in the Gulf.
Oil up on OPEC+ meeting optimism and China demand
Oil prices rose on Monday on expectations that OPEC+ may keep output stable in February and on a demand uptick coming from China.
Oil back to gains on Covid-19 vaccine confidence
Oil prices reversed early losses on Wednesday as some confidence that the existing vaccines can counter the new Covid-19 strain offset concerns over President Trump’s stimulus package pushback.
Oil falls on new Covid-19 strain setback
Oil prices declined on Tuesday as the market ignored news of the US stimulus deal, focusing on the new Covid-19 strain setback.