Oil rises on improving economic data

Oil prices rose about $US1 a barrel on Monday, after bullish data from Asia and Europe, but investors are wary about sharp spikes in new coronavirus infections around the world. Brent crude gained 69 US cents, or 1.7 per cent, to settle at $US41.71 a barrel. US crude...

Oil lower on rise in US virus cases

Oil prices settled lower on Friday as new coronavirus cases spiked in the United States, and on growing concerns about rising US output ticking up while crude stockpiles sat at record highs. Brent crude futures settled down 3 US cents at $US40.91, falling 1 per cent...

Global stocks, oil up despite virus surge

Markets have showed signs of optimism, with European shares opening higher and oil prices rising despite a record number of new COVID-19 infections in the United States. They rose across the US by at least 39,818 on Thursday, the largest one-day increase of the...

Oil rises as US economic data lends help

Oil prices rose about 2 per cent in a volatile session overnight, buoyed by signs of a marginal improvement in the US economy and a tepid rise in fuel demand, but price gains were limited by rising cases of COVID-19 in some US states. Brent crude rose 74 US cents, or...

Oil falls 5% as US crude stocks hit record

Oil prices tumbled over 5 per cent, or more than $US2 a barrel overnight, after US crude storage hit another record and coronavirus cases rebounded in countries like Germany and surged in heavily populated areas of the United States. The United States had its...