Oil prices rise 3% on signs of US recovery

Oil prices rise 3% on signs of US recovery

Oil prices rose 3 per cent in volatile trade overnight as Wall Street surged and the International Energy Agency (IEA) increased its oil demand forecast for 2020, but gains were capped by worries about a second wave of coronavirus cases. Brent crude futures ended the...
Oil prices rise 3% on signs of US recovery

Oil prices rise 2% on OPEC+ output pact

Oil prices rose more than 2 per cent overnight as signs that fuel demand was recovering, while OPEC+ members were complying with a production cut deal, outweighed fears that new coronavirus infections could further slow the global economy. US West Texas Intermediate...
Oil prices rise 3% on signs of US recovery

Oil prices see weekly loss on virus fears

Oil was little changed on Friday and logged a first weekly decline since April as new US coronavirus cases spiked, stoking fears of a second wave of the virus hitting fuel demand. Brent settled at $US38.73 a barrel, up 18 US cents, while West Texas Intermediate...
Oil prices rise 3% on signs of US recovery

Oil prices slump 8% on demand concerns

Oil prices tumbled by about 8 per cent a barrel overnight, fuelled by renewed concerns about demand destruction as new cases of coronavirus tick up globally, while crude inventories hit a record in the United States. US coronavirus cases surpassed 2 million on...
Oil prices rise 3% on signs of US recovery

US consumer prices fall for third month

US consumer prices dropped in May for the third straight month as the coronavirus pandemic pushed the country’s economy into a recession. The Labor Department said on Wednesday that its consumer price index fell 0.1 per cent last month after tumbling 0.8 per...