Yesterday oil prices jumped 2% based on bullish inventory data. Oil prices rose nearly 2% on Wednesday after a favourable U.S. inventory report from the Energy Information Administration (EIA), an OPEC agreement to taper the production cuts, and assurances from U.S. President Trump that Washington will not levy sanctions on China for its treatment of Hong Kong. Oil price futures were up more than 2% on Wednesday, with spot prices for WTI up 1.71% at $40.98 at 6:30pm EDT. Brent crude was trading up 1.75% at $43.65. The news piggybacked ...

Yesterday Oil rose slightly as OPEC+ complies with production cuts. Oil prices rose slightly on Tuesday as OPEC and its allies cut production by more than agreed to in June, although demand concerns lingered due to increased cases of COVID-19 in the United States. Brent crude LCOc1 futures settled up 18 cents at $42.90 a barrel, after moving lower earlier in the session. U.S. West Texas Intermediate (WTI) crude CLc1 futures rose 19 cents to $40.29 a barrel. Crude futures strengthened in post-settlement trading, rising after the American Petroleum Institute, ...

Oil prices slipped about 1% on Monday after global coronavirus cases rose by a record daily amount, fanning fears of renewed government lockdowns, and on growing U.S. and European tension with China. Prices moved lower in post-settlement trade as California’s governor on Monday clamped new restrictions on businesses as coronavirus cases and hospitalizations soared. “The California news puts the demand recovery question back on the table,” said Phil Flynn, senior analyst at Price Futures Group in Chicago. Equities and other asset classes also moved lower after the California shutdown was ...

Oil rises as International Energy Agency boosts demand forecast. Oil prices climbed more than 2% on Friday after the International Energy Agency (IEA) bumped up its 2020 demand forecast but record-breaking new coronavirus cases in the United States tempered expectations for a fast recovery in fuel consumption. Prices also found support after data showed U.S. energy firms cut the number of oil and natural gas rigs operating to a record low for a 10th week in a row. Brent crude LCOc1 settled up 89 cents, or 2%, at $43.24 a ...

Oil prices settled higher on Wednesday as U.S. gasoline consumption showed signs of a recovery, but price gains were limited by rising crude inventories and an increase in coronavirus infections. Both benchmarks were on track for a fourth session of daily percentage changes of less 1% in either direction, shrugging off news that OPEC member Libya was adding to global supplies by reopening its Es Sider oil terminal for exports. U.S. gasoline inventories tumbled by 4.8 million barrels as demand climbed to 8.8 million barrels per day, the highest since ...

Oil futures ended largely steady on Monday as positive economic data supported prices, while a spike in coronavirus cases in the United States that could curb fuel demand pressured prices. “The competing forces in the oil market right now are the reopening of economies around the world, increasing oil demand, countered by concerns about economies closing around the world due to a resurgence in the number of virus cases,” Andy Lipow, president of consultants Lipow Oil Associates. U.S. services industry activity rebounded sharply in June, almost returning to its pre-COVID-19 ...

Oil prices fell on Friday 3rd July, amid surging new coronavirus infections in the United States, which had market participants worried about the U.S. oil demand recovery trend. Oil prices were still headed for a weekly gain last week as low supply from OPEC, encouraging economic data from the U.S. and China, and a drop in U.S. commercial inventories had supported prices earlier during the week. However, the U.S. reported on Thursday its highest level of new daily coronavirus cases so far—at more than 55,000, raising fears that a surge ...

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs increased on Jun. 30: 380 HSFO – USD/MT – 288.36 (+3.36) VLSFO – USD/MT – 342.00 (+3.00) MGO – USD/MT – 415.27 (+3.94) Meantime, world oil indexes demonstrated irregular changes on Jun. 30. Brent for September settlement decreased by $0.56 to $41.15 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for August fell by $0.43 to $39.27 a barrel on the New York Mercantile ...

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs) dropped on Jun.29: 380 HSFO – USD/MT – 285.00 (-2.99) VLSFO – USD/MT – 339.00 (-5.00) MGO – USD/MT – 411.33 (-7.79) Meantime, world oil indexes rose slightly on Jun.29, supported by improving economic data and supply cuts by major producers, but held in check by sharp spikes in new coronavirus infections around the world. Brent for August settlement increased by $0.69 to $41.71 a barrel on the ...

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs increased on Jun. 26: 380 HSFO – USD/MT – 287.99 (+1.92) VLSFO – USD/MT – 344.00 (+3.00) MGO – USD/MT – 419.12 (+0.06) Meantime, world oil indexes demonstrated downward changes on Jun. 26 on fears of more economic disruptions as Covid-19’s rampage continues to devastate the United States and the world. Brent for August settlement decreased by $0.03 to $41.02 a barrel on the London-based ICE Futures Europe ...

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs) dropped on Jun.25: 380 HSFO – USD/MT – 285.64 (-6.47) VLSFO – USD/MT – 341.00 (-7.00) MGO – USD/MT – 419.06 (-8.15) Meantime, world oil indexes changed irregular on Jun.25, after U.S. crude storage hit another record and coronavirus cases rebounded in countries like Germany and surged in heavily populated areas of the United States. Brent for August settlement increased by $0.74 to $41.05 a barrel on the ...

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs decreased on Jun. 24: 380 HSFO – USD/MT – 292.11 (-1.49) VLSFO – USD/MT – 348.00 (-2.00) MGO – USD/MT – 427.21 (-0.29) Meantime, world oil indexes also demonstrated downward changes on Jun. 24 as worries about the second wave of the coronavirus pandemic outweighed support from a gradual reopening of global economies. Brent for August settlement decreased by $2.32 to $40.31 a barrel on the London-based ICE ...

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs) rose slightly on Jun.23: 380 HSFO – USD/MT – 293.60 (+3.28) VLSFO – USD/MT – 350.00 (+3.00) MGO – USD/MT – 427.50 (+2.39) Meantime, world oil indexes changed irregular on Jun.23, after U.S. President Donald Trump’s assurance on China trade deal. Brent for August settlement decreased by $0.45 to $42.63 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for August delivery fell by $0.36 ...

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs increased on Jun. 22: 380 HSFO – USD/MT – 290.32 (+4.13) VLSFO – USD/MT – 347.00 (+5.00) MGO – USD/MT – 425.11 (+4.73) Meantime, world oil indexes also demonstrated upward changes on Jun. 22. Brent for August settlement increased by $0.89 to $43.08 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for August rose by $0.98 to $40.73 a barrel on the New York ...

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs) rose slightly on Jun.19: 380 HSFO – USD/MT – 286.19 (+3.70) VLSFO – USD/MT – 342.00 (+5.00) MGO – USD/MT – 420.38 (+9.14) Meantime, world oil indexes rose on Jun.19, after OPEC producers and allies promised to meet supply cuts and on signs of demand. Brent for August settlement increased by $0.68 to $42.19 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for July ...