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Oil prices tumble as more Coronavirus cases appear
Jan. 24, 2020
Source: Reuters

Oil prices tumble as more Coronavirus cases appear

Oil prices tumbled in the international market on Friday, falling over the concerns of slowing travel and oil demand due to rising coronavirus cases from China. Brent crude was priced 2.2% lower, at $60.69 a barrel. WTI crude futures fell 2.5%, to $54.19 a barrel. “It all about the coronavirus all the time, and we’re not getting signs that things are getting any better,” said an analyst at Price Futures Group.

Oil prices slip over concerns of slow fuel demand
Jan. 23, 2020
Source: Reuters

Oil prices slip over concerns of slow fuel demand

Oil prices continued its downward journey on Thursday, slipping over 1% on the concerns of lower fuel demand aggravated by the spread of a respiratory virus from China. Brent crude was priced 1.3% lower, at $62.39 a barrel. WTI crude futures slipped 1.5%, to $55.88 a barrel. Investors are concerned over the potential of Coronavirus to develop into the SARS epidemic in 2002-2003, which hampered economic growth.

Oil prices as investors shrug off Libyan crude shortage
Jan. 22, 2020
Source: Reuters

Oil prices as investors shrug off Libyan crude shortage

Oil prices dropped in the international market on Wednesday, as the Libyan crude shortage was seen offset by global fuel supply. Brent crude LCOc1 slipped by 0.2%, to $64.46 a barrel. US WTI crude futures CLc1 fell 0.3%, to $58.22 a barrel. “Market participants are already starting to fade this story – believing that this is a transitory outage,” said the commodity strategy head at RBC Capital Markets.

Oil prices slip over fading supply concerns
Jan. 21, 2020
Source: Reuters

Oil prices slip over fading supply concerns

Oil prices slipped in the international market on Tuesday, as investors shrugged off the supply concerns over tensions in Libya. Brent crude LCOc1 dipped down 0.5%, to $64.90 per barrel. US WTI crude futures CLc1 were traded 0.2% lower, at $58.40 a barrel. Libya's state-run National Oil Corporation (NOC) is said to have declared force majeure on crude loadings from El Sharara and El Feel oilfields in Libya’s southwest.

Oil prices ramp up over crisis in Libya
Jan. 20, 2020
Source: Reuters

Oil prices ramp up over crisis in Libya

Oil prices ramped up on Monday, pushed up by the shutting down of two Libyan crude production bases. Brent crude LCOc1 was priced 1.2% higher, at $65.60 a barrel. US WTI crude futures CLc1 were traded 1% higher, at $59.14 a barrel. Libya's state-run National Oil Corporation (NOC) yesterday informed about commencing shut down operations at two big oilfields after forces loyal to the Libyan National Army closed a pipeline.

Oil prices jump as the US and China establish truce
Jan. 16, 2020
Source: Reuters

Oil prices jump as the US and China establish truce

Oil prices climbed on Thursday, buoyed up by the long-awaited signing of Phase 1 of the proposed trade deal between Washington and Beijing. Brent crude LCOc1 was priced 0.5% higher, at $64.33 a barrel. US WTI crude futures CLc1 were traded 0.5% higher, at $58.09 a barrel. China is aiming to buy over $50 billion more of U.S. oil, liquefied natural gas and other energy products over two years.

Oil prices slip over fears of US-China deal not inducing demand
Jan. 15, 2020
Source: Reuters

Oil prices slip over fears of US-China deal not inducing demand

Oil prices fell on Wednesday, stressed by the possibilities of the US-China trade deal not inducing demand as Washington is looking to keep tariffs on Chinese goods until a second phase. Brent crude LCOc1 fell 0.3%, at $64.30 per barrel. US WTI crude futures CLc1 were priced 0.3% lower, at $58.04 a barrel. The Phase 1 agreement between the US and China will be signed at the White House today.

Oil prices drop over de-escalating tensions in the Middle East
Jan. 14, 2020
Source: Reuters

Oil prices drop over de-escalating tensions in the Middle East

Oil prices slipped in the international market on Tuesday, as the tensions between the US and Iran deescalated after this month’s clash. Brent crude LCOc1 dipped down 0.1%, to $64.12 per barrel. U.S. West Texas Intermediate crude futures CLc1 were traded 0.1% lower, at $58.04 a barrel. However, the losses were capped by the expectations of a drawdown in U.S. crude stockpiles and, optimism about the potential US-China trade deal.

Oil Prices dip over receding fears of Middle East war
Jan. 10, 2020
Source: Reuters

Oil Prices dip over receding fears of Middle East war

Oil prices fell in the international market on Friday, amidst the receding threat of war in the Middle East and slower economic growth gained attention. Brent crude LCOc1 slipped 0.3%, to $65.17 a barrel. US WTI were priced 0.3% lower, at $59.36 a barrel. Oil prices have reached as down as it was before the death of top Iranian general, Qasem Soleimani last week.

Oil prices climb over Iranian attacks on US forces
Jan. 8, 2020
Source: Reuters

Oil prices climb over Iranian attacks on US forces

Oil prices ramped up in the international market on Wednesday, buoyed up by Iranian attacks on American forces in Iraq. Brent crude futures LCOc1 rose 2.3%, to $69.83 a barrel. US WTI CLc1 crude was priced 2% higher, at $63.95 a barrel. Iran let loose a dozen missiles on U.S.-led forces stationed in Iraq early on Wednesday.

Oil prices ramp up as tensions mount in the Middle East
Jan. 6, 2020
Source: Reuters

Oil prices ramp up as tensions mount in the Middle East

Oil prices ramped up in the international market on Monday, climbing on the back of escalating tensions in the Middle East and as US threats to impose sanctions on Iraq. Brent crude futures LCOc1 soared 2.4%, to a high of $70.27 a barrel. US WTI CLc1 crude rose 2.1%, to $64.39 a barrel. President Trump yesterday threatened to enforce sanctions on Iraq if the country forced U.S. troops to withdraw.

Oil Prices rise over US Attacks on Iran
Jan. 4, 2020

Oil Prices rise over US Attacks on Iran

While the global stock market had a mixed situation, oil prices rose more than 3% yesterday, after the US killed Iranian general, Qasem Soleimani. The death of Soleimani has caused an increase in the geopolitical rise. This can eventually lead the US and Iran to lock horns. Sources predict Iran launching a targeted attack on US ships which could disrupt seaborne crude oil flows and thereby increase the oil prices.

Oil gains over escalating tensions in the Middle East
Jan. 3, 2020
Source: Reuters

Oil gains over escalating tensions in the Middle East

Oil prices rise higher in the International market on Friday, amidst Middle East tensions. Brent crude futures LCOc1 has jumped nearly $3 to hit a high of $69.16 a barrel which is the highest since Sept. 17. West Texas Intermediate (WTI) crude futures CLc1 climbed 2.9%, to $62.94 a barrel. China’s announcement to keep around $115 billion in funds to support the country's ailing economy also boosted oil prices.

Oil prices trade higher on the second day of 2020
Jan. 2, 2020
Source: Reuters

Oil prices trade higher on the second day of 2020

US-China bond supported an increase in oil prices on Thursday, despite increased Middle East tensions. Brent Crude rose to $66.25 a barrel, while WTI climbed to $61.19 per barrel. Oil cartel, OPEC's prediction of crude benchmarks average out a greater value in 2020. The decrease in US crude inventories last week has also boosted price rise. OPEC and allies' decision of 500 million bpd in production cuts came into effect from Jan 1.

Oil prices rise over new tensions in the Middle East
Dec. 30, 2019
Source: Reuters

Oil prices rise over new tensions in the Middle East

Oil prices remained high in the international market on Monday, even though the traders expected lower fuel prices. The price of WTI increased by 1% to $61.73. Brent Crude rose 27% in 2019. Tensions in the Middle East escalated on Sunday, as the United States carried out airstrikes in Iraq and Syria. U.S. officials have also warned of “additional actions”.

Oil prices touched three-months high on Friday
Dec. 27, 2019
Source: Reuters

Oil prices touched three-months high on Friday

On Friday, oil prices climbed on the back of record online spending by U.S. consumers. Brent rose by 0.2% and was traded at $68.05 a barrel. WTI went up by 0.2%, to $61.81 a barrel. Online holiday purchases of US consumers have reached a record high and “showing few signs of tightening their purse strings, which is positive for oil also”, says Chief Asia market strategist at AxiTrader.

Oil prices climb over supply cut and trade deal
Dec. 26, 2019
Source: Reuters

Oil prices climb over supply cut and trade deal

Oil prices rose on Thursday, climbing on the back of OPEC-led supply cut and US-China trade deal. Brent crude LCOc1 jumped 0.2%, to $67.36 a barrel. U.S. WTI CLc1 was traded 0.3% higher at $61.31 a barrel. President Trump on Tuesday said that the US and China will sign the Phase 1 agreement to end the ongoing trade dispute between the two biggest economies of the world.

Oil prices jump over support for supply cuts
Dec. 24, 2019
Source: Reuters

Oil prices jump over support for supply cuts

Oil prices rose in the international market on Tuesday, pushed up by comments from Russian energy minister towards OPEC-led supply cut. Brent crude LCOc1 climbed to $66.44 a barrel. U.S. WTI CLc1 was traded higher at $60.53 a barrel. Russian energy minister, in an interview on Monday, said that cooperation with the Organization of the Petroleum Exporting Countries (OPEC) would continue “until the market requires it”.

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