Oil swings from gains to losses as uncertainty prevails after OPEC+ meeting
Oil prices have swung towards both sides today, due to the uncertainty that the OPEC+ meeting created, and as the US election is coming closer and closer.
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Oil prices have swung towards both sides today, due to the uncertainty that the OPEC+ meeting created, and as the US election is coming closer and closer.
Oil prices fell today on bearish Covid-19 news, but anticipation of the OPEC+ meeting and crude inventory draws still provide support.
Oil prices are fluctuating around Tuesday’s levels today on mixed signals from the IEA and on anticipation of the OPEC+ upcoming meeting.
Oil prices have risen today as a hurricane in the US and an oil worker strike in Norway reduce global supplies.
Oil prices declined today as US President Donald Trump halted negotiations on a new stimulus bill that would support the Covid-19 hit economy, while US crude stocks also increased.
Oil prices declined on Wednesday as oil demand seems fragile amid a rise in Covid-19 infections, while supply increases.
Oil prices declined on Monday as Covid-19 infections continue to increase and on key market participants’ pessimism.
Oil prices rose a little on Tuesday as the market adjusted the scale of Monday’s decline, but downside risks remain.
Oil prices are falling today in response to a combination of supply-demand bearish news.
Oil prices declined today as the market is correcting the exaggerated price levels reached in yesterday’s session. Meanwhile, Covid-19 demand concerns and US supply return.
Oil prices have inched up today as the market has already priced in oil demand concerns and now awaits for the OPEC+ meeting.
Oil prices remain largely flat but head for back-to-back weekly losses, for the first time since the height of Covid-19’s first wave.