Oil prices rose nearly 3% on Wednesday after the embattled US president, Donald Trump, falsely claimed victory in a tight election with millions of votes still to be counted and the final result not yet clear.
A victory by Trump is viewed as bullish for oil because of sanctions on Iran and his...
Global oil prices moved in and out of negative territory on Friday but remained on course for a second monthly fall as rising Covid-19 cases in Europe and the United States heighten concerns over fuel consumption.
Brent crude was up 3 cents at $37.68 a barrel after touching a five-month low in...
OPEC’s secretary general said an oil market recovery may take longer than hoped as coronavirus inflections rise around the world, and OPEC and its allies would “stay the course” in balancing the market.
OPEC and allies including Russia made a record oil output cut in April as the pandemic hit...
Oil fell more than 2% on Monday, extending last week’s losses as growing cases of Covid-19 in the United States and Europe raised worries about crude demand, while the prospect of increased supply also hurt sentiment.
Brent crude was down 89 cents, or 2.1%, at $40.88 US West Texas Intermediate...
Ahead of the Indo-US 2+2 ministerial meeting starting Monday, the US administration has told the Indian government that its development of the Chabahar Port in Iran will not be impacted by US sanctions on 18 major Iranian banks.
This assumes significance since the extremely hawkish US President...
Oil prices eased on Wednesday after a surprise build-up in US crude stockpiles stoked concerns about a global supply glut even as a spike in global COVID-19 cases fuelled fears of a slower recovery in fuel demand.
Brent crude futures for December delivery were at $42.70 a barrel, down 46 cents,...
OPEC and allied producers have pledged action to support the oil market as concerns mounted that a second wave of the Covid-19 pandemic will hobble demand and an earlier plan to raise output from next year would further depress prices.
OPEC has said no-one should doubt the group’s commitment to...
Oil prices fell on Monday after reports that China’s third-quarter economic growth did not rise as much as expected, underscoring concerns that surging coronavirus cases globally are impacting demand in the world’s largest oil importer.
The world’s second-largest economy in the third quarter...
The world’s response to Covid-19 can “reshape the future of energy” for years to come, the International Energy Agency said Tuesday in its annual World Energy Outlook report.
The IEA report underscored that most important of all is how the crisis will ultimately affect the transition to clean...
Oil prices dropped 1% for a second straight session on Monday as US producers began restoring output post-Hurricane Delta.
Brent crude for December fell 41 cents to $42.44 a barrel and US West Texas Intermediate for November was at $40.18 a barrel, down 42 cents, CNBC reported.
Front-month...