Oil prices slip after week of gains as vaccine rally cools November 13, 2020 Global oil prices today pared some of their gains for the week as a vaccine-inspired rally ran out of steam. Prices shot up at the beginning of the week on the news that Pfizer’s coronavirus vaccine was 90 per cent effective, but began to slip back yesterday. Today global standard Brent crude fell a further [...]
Oil prices continue rally as vaccine hope buoys traders November 11, 2020 Oil prices continued to surge today as the discovery of an effective vaccine for the coronavirus disease buoyed traders. Both Brent crude and West Texas Intermediate rose around 3.5 per cent this morning, continuing a rally which has seen prices rise over 10 per cent since Monday. Global standard Brent crude is now trading around [...]
Oil prices jump as Trump declares victory prematurely November 4, 2020 Oil prices jumped this morning after President Donald Trump falsely claimed to have won the US election with millions of ballots still to be counted. Global standard Brent crude jumped two per cent to trade at $40.50 in the aftermath of Trump’s speech this morning. US benchmark West Texas Intermediate also climbed by the same [...]
Oil prices continue slump as lockdown restrictions increase November 2, 2020 Oil prices continued last week’s plunge this morning as increased coronavirus restrictions came into effect around the world. Prices have fallen sharply over the last week over fears that new lockdowns will cause a decrease in fuel demand. Worldwide standard Brent crude dropped 2.3 per cent to trade at around $37, while US benchmark West [...]
Oil prices plunge as second lockdown fears mount October 29, 2020 Global oil prices slumped to their lowest prices in nearly five months today as fears over new coronavirus lockdowns mounted. With numbers of new cases climbing around the world, several countries have put in place new restrictions, putting downward pressure on demand. Both Brent crude and West Texas Intermediate fell about six per cent earlier, [...]
Oil prices fall on fears of production boost amid surge in Covid-19 cases October 26, 2020 Global oil prices dropped sharply this morning amid fears of a ramp in production even as governments implement more stringent restrictions to cope with a surge in coronavirus cases. Worldwide standard Brent crude shed 2.4 per cent to fall to $40.76, while American benchmark West Texas Intermediate dropped 2.6 per cent to stand at $38.78. [...]
Has demand for oil already peaked? October 13, 2020 | City Talk Alternative energy sources to fossil fuels have been around for many years. Countries around the world are now harnessing the power of the wind, sun and tides to cut their dependence on fossil fuels such as oil. Energy transition However, this transition to renewable energy is now set to accelerate rapidly, driven by a number [...]
Oil prices jump on optimism over Trump health updates October 5, 2020 Oil prices surged six per cent today after doctors said US President Donald Trump could soon be discharged from hospital following his Covid-19 diagnosis. Brent crude rose 5.6 per cent to $41.48 per barrel this afternoon, while US West Texas Intermediate was up 6.4 per cent to $39.42 per barrel. Oil prices had dropped more [...]
Oil prices slump as Trump contracts coronavirus and global output increases October 3, 2020 Oil prices fell more than four per cent on Friday after US President Donald Trump tested positive for Covid-19. The sell off saw oil post its second weekly decline as rising global crude output threatened to overwhelm the market’s recovery. The uncertainty around the health of Trump contributed to a number of factors causing uncertainty, [...]
Global oil prices plunge over fresh demand fears October 1, 2020 Global oil prices dropped sharply this afternoon amid fears that the continuing rise in coronavirus cases would drive demand down again. Worldwide standard Brent crude lost 5.2 per cent to trade at $40.05, while US benchmark West Texas Intermediate dropped six per cent to stand at $37.75. Earlier this week, the number of people who [...]