Report

rss

Iraq News

Kurdistan

Economy

World

All News

Oil prices stabilize 7% loss for US crude

Category: Economy

Date: 2020-09-10T06:53:05+0000
Oil prices stabilize 7% loss for US crude

Shafaq News / Oil prices stabilized today, Thursday, after a loss suffered last Tuesday by more than 5% for Brent crude and more than 7% for US West Texas.

And oil futures for Brent and West Texas crude rose again on Wednesday, to offset some of the previous session's losses, and to remain stable on Thursday.

Some specialists attributed the decline in the two benchmarks from Tuesday's levels, near the lowest price in three months, after the Saudi National Oil Company, Aramco, reduced the official selling prices of its Arab Light crude in October, and Abu Dhabi followed Saudi Arabia’s example in reducing oil prices, which is an indication of weak demand. .

And the escalation in Covid-19 cases in some countries continues to undermine hopes for a steady recovery in global demand.

At 6:00 pm GMT, Brent crude for November loading rose 0.15% to $ 40.85, while US crude settled to $ 38.03.

Record supply cuts OPEC + helped support prices, but in light of economic numbers announced almost daily, the outlook for oil demand remains negative.


related

Oil prices of OPEC Members

Date: 2021-08-12 07:29:42
Oil prices of OPEC Members

Oil prices of OPEC Members

Date: 2021-03-25 07:07:19
Oil prices of OPEC Members

Oil price rise outlook stalls over Delta speed bump

Date: 2021-09-01 05:57:45
Oil price rise outlook stalls over Delta speed bump

Oil settles up after hitting 15-month highs on demand prospects

Date: 2021-06-02 05:51:53
Oil settles up after hitting 15-month highs on demand prospects

Oil prices climb on improving demand outlook

Date: 2021-05-31 08:02:20
Oil prices climb on improving demand outlook

Oil prices edge higher ahead of OPEC+ meeting, vaccine hopes

Date: 2020-11-17 07:17:59
Oil prices edge higher ahead of OPEC+ meeting, vaccine hopes

Oil prices of OPEC Members

Date: 2021-06-17 09:05:03
Oil prices of OPEC Members

Oil prices rise on hopes of recovery in demand

Date: 2020-12-30 07:12:27
Oil prices rise on hopes of recovery in demand