Oil climbs to one-week high on U.S. supply concerns

FILE PHOTO: A maze of crude oil pipes and valves is pictured during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016. REUTERS/Richard Carson SINGAPORE (Reuters) – Oil prices climbed on Monday to a one-week high in a second straight session of gains as concerns… Continue reading Oil climbs to one-week high on U.S. supply concerns

Oil prices drop for fourth day as COVID-19 second wave worries intensify

MELBOURNE (Reuters) – Oil prices slipped for a fourth straight day on Tuesday on worries about a resurgence of coronavirus cases globally stifling a promising recovery in fuel demand, while growing output from Libya adds to plentiful supply in the market.FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian… Continue reading Oil prices drop for fourth day as COVID-19 second wave worries intensify

Oil prices drop for fourth day as COVID-19 second wave worries intensify

MELBOURNE (Reuters) – Oil prices slipped for a fourth straight day on Tuesday on worries about a resurgence of coronavirus cases globally stifling a promising recovery in fuel demand, while growing output from Libya adds to plentiful supply in the market.FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian… Continue reading Oil prices drop for fourth day as COVID-19 second wave worries intensify

Oil falls as demand growth concerns outweigh U.S. stock drawdown

MELBOURNE/SINGAPORE (Reuters) – Oil prices dropped on Thursday, weighed down by concerns that U.S. economic recovery is slowing as the coronavirus outbreak lingers, while a renewed wave of COVID-19 cases in Europe have led to reimposed travel restrictions in several countries.FILE PHOTO: the sun sets behind a crude oil pump jack on a drill pad… Continue reading Oil falls as demand growth concerns outweigh U.S. stock drawdown

Oil edges up as U.S. storm eases, but recovery fears persist

MELBOURNE/SINGAPORE (Reuters) – Oil rose in early trade on Tuesday, paring sharp overnight losses, as the latest tropical storm in the Gulf of Mexico lost strength, but worries about fuel demand persisted with flare-ups around the globe in coronavirus cases.FILE PHOTO: Pump jacks operate at sunset in Midland, Texas, U.S., February 11, 2019. REUTERS/Nick OxfordBrent… Continue reading Oil edges up as U.S. storm eases, but recovery fears persist