Oil prices extended gains on Tuesday as more U.S. states eased lockdowns and the European Union sought to attract travellers, helping to offset concerns over fuel demand in India as Covid cases soar
West Texas Intermediate advanced 1.3 per cent, adding to Monday's modest climb as the dollar weakened, while production in Libya fell below 1 million barrels a day amid a budget dispute
Crude oil and natural gas production also declines
Buyers using other currencies pay less for dollar-denominated oil when the greenback weakens
Brent crude was down 4 cents, at $66.73 a barrel by 11:06 AM ET (1506 GMT), after rising 6% last week
This is the second reduction in rates this month
Crude oil prices could shift higher again once the market shakes off the latest bout of coronavirus jitters
Futures in New York lost 0.5 per cent on Monday after falling 3.5 per cent last week
Oil prices climb on favourable outlook for United States fuel demand
India-Saudi relationship must survive oil price dispute
NEW YORK (Reuters) - Oil prices eased on Wednesday after U.S. gasoline inventories unexpectedly swelled, fanning fears that new coronavirus outbreaks will weaken the global recovery in fuel demand.
Futures in New York fell as much as 3 per cent on Monday
Ministry of Petroleum and Natural Gas is reviewing closely the global crude supplies and price situation
Brent crude settled up $2.12, or 3.4%, to $64.86 a barrel. US oil settled up $2.29, or 3.9%, at $61.45 a barrel.
NEW YORK (Reuters) - Oil prices were mixed on Wednesday, supported by a draw in U.S. crude inventories but pressured by concerns about the market's recovery after OPEC and its allies lowered their 2021 demand growth forecast.
Crude has been hit by rising volatility in recent sessions, with WTI swinging between gains and losses last week
Around the world, countries spend a staggering $300 billion a year to keep a lid on fossil-fuel prices, stave off civil unrest and prop up their economies
NEW YORK (Reuters) - Oil prices fell 4% per barrel on Thursday, extending a string of market weakness on renewed lockdowns in Europe and Asia to head off a rising coronavirus infection rate.
Range breakout for gold comes above 45,300
NEW YORK (Reuters) - Oil prices jumped about 6% on Wednesday after a ship ran aground in the Suez Canal, and worries that the incident could tie up crude shipments gave prices a boost after a slide over the last week.