Oil prices jump on signs of higher demand

Oil prices jump on signs of higher demand

US crude prices have reached their highest price since March, on strengthening fuel demand as countries around the world eased travel restrictions they had imposed to curb the spread of the coronavirus. US crude gained 19.7 per cent last week and Brent crude rose 5.2...
Oil prices jump on signs of higher demand

Oil rises on dip in US crude stockpiles

Oil prices settled higher overnight after the International Energy Agency (IEA) forecast lower global stockpiles in the second half of 2020, although worries remain that a second surge in coronavirus infections could occur in coming months. Crude prices have ticked up...
Oil prices jump on signs of higher demand

Oil falls despite US crude stock drawdown

Oil prices fell about 2 per cent overnight despite the first decline in US crude inventories since January, as the US Federal Reserve chairman stoked demand fears with a warning the economy would take many months to recover from the coronavirus pandemic. Oil had...
Oil prices jump on signs of higher demand

Oil rises; OPEC looks to cut supply

Oil prices rose overnight after OPEC’s de facto leader, Saudi Arabia, said it would increase supply curbs in June, while other members of the oil-producing group said they want to extend the deep cuts reached in April for a longer period than originally agreed....
Oil prices jump on signs of higher demand

Oil falls on fears of second virus wave

Oil prices fell overnight as investors worried about a second wave of coronavirus infections, but new output cuts from Saudi Arabia tempered worries about oversupply and limited price losses. Brent crude futures lost $US1.37, or 4.4 per cent, to settle at $US29.60 a...