• Oil touched its strongest level since early September as signs that Covid-19 vaccinations in the U.S. could be underway within three weeks improved the demand outlook. Markets broadly rallied after AstraZeneca Plc became the latest company to report a vaccine that protects most people from coronavirus. West Texas Intermediate for January delivery rose 1.5% to $43.04 a barrel; Brent…
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• Oil prices fell sharply at press time, with Brent Crude, the global benchmark, falling as much as 5% before paring losses to trade 2.3% lower at $37.07 a barrel. West Texas Intermediate, the U.S. benchmark, was down 2.7% at $34.82 a barrel.
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• Oil futures lost ground at press time, prompting prices to turn lower for the week, as an accelerating rise in COVID-19 cases in the U.S. and Europe heightens worries about demand for crude. West Texas Intermediate crude for November delivery fell 58 cents, or 1.4%, to $40.38 a barrel on the New York Mercantile Exchange, December Brent crude was…
Read More• Oil prices were falling at press time, with the price of West Texas Intermediate declining more than 6% as OPEC’s production increased in September over August. West Texas Intermediate was $37.79 while Brent dropped 5.22% to $40.09.
Read More• Oil rebounded above $40 at press time after EIA data showed a drawdown in oil storage and Hurricane Sally forced offshore platforms offline.
Read More• Although U.S. benchmark crude futures have rebounded from April’s negative territory, price rallies remain limited amid uncertainty over when oil consumption will return to normal; and virus cases spiking in new hot spots like Iowa and South Dakota. Demand may also take a hit in September and October as Chinese imports ease state-issued quotas for independent refiners following a…
Read More• A new CBS/YouGov poll of Pennsylvanians shows that a slight majority of the state now opposes fracking, with 52% of voters opposed and a corresponding 48% voting in favor of fracking. That goes against the conventional wisdom that politicians can’t run on anti-fracking policies in Pennsylvania. In fact, in fracking-friendly Allegheny County, three political candidates won their primary elections…
Read More• At press time, West Texas Intermediate crude for September delivery rose 49 cents, or 1.2% to finish at $42.19 a barrel on the New York Mercantile, after rising as high as $43.52 immediately after the data. The global benchmark, October Brent crude closed at $45.17 a barrel, up 74 cents, or 1.7%, on ICE Futures Europe.
Read More• Oil settled at its highest level since early March as indications of an economic recovery from the coronavirus pandemic helped drive a rally in commodities. Both Brent and West Texas Intermediate crude futures jumped more than 2% at press time. European Union leaders agreed on an unprecedented stimulus package to pull their economies out of the worst recession in…
Read More• At press time, West Texas Intermediate for August delivery rose 28 cents to settle at $40.90 a barrel. Brent for September settlement rose 21 cents to $43.29 a barrel.
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