Oil

Oil prices dropped on Thursday on doubts over the ability of crude producers to agree to extend record output cuts, heightened by worries over a build in U.S. fuel inventories. Brent crude LCOc1 futures eased by 29 cents to $39.50 a…

Oil prices rose on Tuesday on expectations that major producers would agree to extend output cuts that have shored up prices, during a video conference likely to be held this week. Benchmark Brent crude LCOc1 rose 2.3%, or 88 cents, to…

Oil futures edged lower on Monday as rising U.S.-China tensions weighed on market sentiment, but reports that OPEC and Russia were close to a deal extending output buoyed prices. Brent futures LCOc1 fell 37 cents, or 1%, to $37.47 a…

Oil prices eased on Friday on fears of worsening Washington-Beijing relations and lacklustre U.S. fuel demand, but were still headed for sharp monthly gains. July Brent crude futures LCOc1 fell 34 cents, or 1%, to $34.95 a barrel by…

Oil prices fell on Thursday after U.S. industry data showed a surprise steep build in crude oil inventories, dampening hopes of a smooth recovery in demand as some countries ease coronavirus lockdowns. The decline in oil benchmarks…

President Vladimir Putin discussed Russia’s cooperation with Iraq over an OPEC+ deal to reduce oil supply in a telephone conversation with Iraq’s Prime Minister Mustafa al-Kadhimi, the Kremlin said on Monday. The two men noted the…

Oil prices held steady on Wednesday despite signs of improving demand and a drawdown in U.S. crude inventories, as worries over the economic fallout from the coronavirus pandemic capped gains. Brent crude futures for July delivery LCoc1…

The coronavirus outbreak has not stopped oil production in Iran, the official IRNA news agency quoted Oil Minister Bijan Zanganeh as saying on Tuesday. The ministry has made strenuous efforts not to halt production in the oil industry…