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(MT Newswires) – Crude oil prices slumped on Friday, extending declines this month to more than 50%, after Russia reportedly turned down US President Donald Trump’s offer to help resolve a price war with Saudi Arabia. Shrugging off the verbal intervention by President Trump, Russia views “Saudi Arabia’s behavior as ‘blackmail’ and refuses to yield […]
(MT Newswires) – Crude oil prices ended higher on Friday, edging up after dropping by nearly a third in a week but ended the week with the steepest slump since 2008 amid a price war between Saudi Arabia and Russia, the two biggest producers in the world, and prospects for a supply glut as the […]
(MT Newswires) – Crude oil prices continued to slump on Friday, dropping for the sixth-straight session to the lowest since the end of 2018 as the coronavirus continued its spread outside of China, and quarantines and travel restrictions slashed demand. According to Johns Hopkins University data, South Korea now has 2,337 cases of the virus […]
(MT Newswires) – Crude oil was lower on Friday but managed to end the week in positive territory, as traders mulled the supply response to weaker demand caused by the coronavirus. Jet fuel demand fell as airlines cut the number of flights to and within China, where many factories and businesses remain shuttered. However, Commerzbank […]
(MT Newswires) – Crude oil rose to the highest level this month on optimism that the impact of the coronavirus may be short-lived. The World Health Organization reportedly played down fears by saying the recent jump in the number of diagnoses didn’t necessarily reflect a sudden surge in new infections, soothing investors’ nerves after the […]
(MT Newswires) – Crude prices fell Friday as markets continued to assess the impact of the new coronavirus on oil demand. A technical panel from the Organization for the Petroleum Exporting Countries and other producers, known as OPEC +, recommended an additional cut of 600,000 barrels per day in oil output in response to the […]
(MT Newswires) – Crude dropped to the lowest in a month Friday as Persian Gulf tensions ebbed. The drop — the lowest since Dec. 11 — comes as traders try to assess proper security of supply premium as tensions between the US and Iran eased. Earlier in the week, crude had hit a five-month high as […]
(MT Newswires) – Crude surged higher Friday, closing at $61.18. and rounding out the week with gains of 2.04%, following the overnight killing of Iran’s top military commander in a US drone strike outside Baghdad. The US said late Thursday that it killed Gen. Qassem Soleimani in an airstrike near the airport in Iraq’s capital […]
(MT Newswires) – Crude rose to the highest level in three months early Friday on optimism after a partial “phase-one” trade deal was announced in which China failed to commit to a specific dollar amount of purchases and the Trump administration removed the threat of any new import tariffs on Sunday. The Office of the […]
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