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Oil Prices

Oil slips on weak demand outlook

On Thursday, oil prices fell as rising coronavirus cases dampened the demand outlook, with further price pressure from a rise in OPEC output last month, though losses were capped by renewed hopes for U.S. fiscal stimulus. Brent crude…

Oil prices slip on potential Libyan output resumption

Oil prices fell on Monday, weakened by the possible resumption of Libyan production and as rising coronavirus cases stoked worries about global demand, although the market drew support as a tropical storm threatened to disrupt output in the…

Oil prices rise by 2%

Oil prices rose about 2% on Thursday, turning positive as OPEC and its allies said the producer group would crack down on countries that failed to comply with output cuts and planned to hold an extraordinary meeting in October if oil…

Oil rises more than 4% as U.S. stockpiles fall

Oil prices jumped more than 4% on Wednesday, following a drawdown in U.S. crude and gasoline inventories and as Hurricane Sally forced a swath of U.S. offshore production to shut. Brent crude LCOc1 rose $1.64, or 4.1%, to $42.17 a barrel…

Oil rises towards $46 on U.S. inventory drop

On Wednesday, Oil rose towards $46 a barrel, gaining for a third day, supported by a report that U.S. crude inventories fell and as surveys showing stronger manufacturing raised hopes of an economic recovery from the coronavirus pandemic.…

Oil rises 2% after draw in U.S. oil stocks

Crude prices rose more than 2% on Wednesday after government data showed U.S. oil inventories fell across the board, bolstering hopes that fuel demand in the world’s biggest economy will withstand the coronavirus pandemic. Brent crude…

Oil gains on U.S. stimulus hopes and demand recovery

On Tuesday, Crude prices rose underpinned by expectations of U.S. economic stimulus to support the world’s biggest oil consumer, as well as a rebound in Asian demand as economies, pick up. Brent crude LCOc1 futures rose 22 cents to…