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Oil prices maintained support on Tuesday, holding gains from the previous session that came as California tightened its pandemic lockdown through Christmas, and coronavirus cases continued to surge in the United States and Europe. U.S. West Texas Intermediate (WTI) crude futures fell 10 cents or 0.2%, to $45.53 a barrel. Brent crude futures rose 5 cents, or 0.1%, to $48.64 a barrel. Globally, a sharp rise in coronavirus cases has led to a string of renewed lockdowns, including strict [Read more]

Oil prices rose on Thursday, taking the week's gains to more than 11% on growing hopes that the world's major producers will hold off on a planned supply increase as soaring cases of COVID-19 dent fuel demand. U.S. West Texas Intermediate (WTI) crude futures climbed 45 cents, or 1.12%, to $41.86 a barrel. Brent crude futures rose 40 cents, or 0.9%, to $44.16 a barrel. Algeria's energy minister said on Wednesday that OPEC+ - grouping the Organization of the Petroleum Exporting Countries [Read more]

Oil prices dipped again on Monday as rising coronavirus cases upset hopes for a smooth recovery in fuel demand, with crude on track for its first monthly fall in many months after slipping last week. U.S. West Texas Intermediate was at $40.01 a barrel, down 13 cents or 0.3%, following a 2.1% decline last week. Brent crude edged down 8 cents, or 0.2%, to $41.84 a barrel by 0003 GMT after dropping 2.9% last week. Brent is on track to fall for the first month in six while WTI is headed [Read more]

Oil prices edged down on Monday as rising coronavirus cases and tensions between the United States and China pushed investors toward safe-haven assets. U.S. West Texas Intermediate (WTI) crude was at $40.82 a barrel, down 41 cents. Brent crude dipped 48 cents, or 1.11%, to $42.82 a barrel. The fall in oil mirrored moves in broader financial markets in Asia amid concerns about escalating tensions between the world's two biggest economies following the closure of embassies in Houston [Read more]

Oil prices fell on Monday, unnerved by the prospect that a recovery in fuel demand could be derailed by a rise in the pace of coronavirus infections around the world. U.S. oil was off by 49 cents, or 1.21%, at $40.08 a barrel, after gaining 4 cents last week. Brent crude was down 43 cents, or 0.95%, at $42.68 a barrel after dropping slightly last week. More than 14.5 million people have been infected by the novel coronavirus globally and more than 604,000 have died of COVID-19, the [Read more]

Oil prices rose on Friday, working to counter steep losses from the previous session, and were headed for weekly declines on worries that renewed lockdowns following a surge in coronavirus cases in the United States and elsewhere would suppress fuel demand. U.S. oil rose 33 cents, or 0.8%, at $39.92 a barrel after a drop of 3% in the previous session. Brent crude was up by 25 cents, or 0.6%, at $42.58 a barrel after falling more than 2% on Thursday. Brent looks set for a weekly [Read more]

Oil prices were broadly stable for a fourth session on Wednesday, with rising U.S. crude stockpiles and an increase in U.S. coronavirus infections arresting a recent recovery sparked by easing lockdowns. U.S. West Texas Intermediate (WTI) crude futures were up 23 cents at $40.69 a barrel. Brent crude futures rose 17 cents to $43.14 a barrel. Both benchmarks are set for a fourth session of daily percentage changes of less 1% in either direction. The U.S. coronavirus outbreak crossed [Read more]

Crude prices fell on Friday as the resurgence of the coronavirus globally and in the United States, the world's largest oil consumer, dimmed the prospects of fuel demand recovery. U.S. West Texas Intermediate (WTI) crude futures fell 34 cents, or 0.8%, to $40.31 a barrel. Brent crude futures were down 37 cents, or 0.9%, at $42.77 a barrel as of 0042 GMT. Both benchmarks rose more than 2% on Thursday, buoyed by stronger-than-expected U.S. jobs data and a fall in U.S. crude inventories. [Read more]