West Texas Intermediate

Oil prices soared on Monday to their highest in about 13 months as fears of heightened tensions in the Middle East prompted fresh buying, while hopes that a U.S. stimulus and an easing of lockdowns will buoy fuel demand provided support.…

The members of the OPEC group of oil producers will meet with their allies Thursday to see if they can reach an accord on extending production cuts over the coming months. The video-conference meeting, scheduled to start at 1300 GMT, was…

TAYO ELEGBEDE Oil prices  traded up on Monday over half of Friday's losses, as fresh hopes for demand recovery emanates in the global oil market. West Texas Intermediate (WTI) crude traded at $42.05 with a rise of 2.04 per cent or…

TAYO ELEGBEDE Oil futures traded below $42 per barrel following rising tensions between United States and China. The tensions have been precipitated by the signing of executive orders by the United States President, Donald…

TAYO ELEGBEDE Crude oil prices have slightly risen Wednesday morning following the record of a draw in crude oil inventories as compared to the shocking figures of last week. The American Petroleum Institute (API) reported on Tuesday…

Oil prices were unchanged on Friday, with trading marked by growing uncertainty about global recovery in fuel demand as new COVID-19 cases surge in several countries just as major producers get set to loosen production curbs.…

Oil prices drifted lower on Thursday as concerns about renewed COVID-19 lockdowns in the United States outweighed signs of a recovery in U.S. gasoline demand. U.S. West Texas Intermediate (WTI) crude futures fell 14…

Oil prices dipped on Wednesday after industry data showing a build in U.S. crude stockpiles added to worries about oversupply, but hopes for a swift economic recovery in China limited losses. Brent crude futures fell 10 cents, or 0.2 per…

Oil prices dipped on Thursday after the United States recorded its biggest one-day spike in coronavirus cases and California re-imposed some lockdown measures. This stoked worries a resurgence in COVID-19 cases will stall a recovery in…

By TAYO ELEGBEDE Larger percentage of the respondents to a poll feel the move to cut oil production will support oil prices. 54 respondents to the poll by the Offshore Technology to assess the impact of the agreement by members of…