crude oil

News
Videos

CRUDE OIL NEWS

Oil heads for another weekly slide on coronavirus turmoil

Oil plunges as new coronavirus strain renews demand recovery fears

December 22, 2020 2:55 pm

Brent crude futures were down 88 cents, or 1.7% to $50.03 a barrel at 0730 GMT, while US West Texas Intermediate (WTI) crude futures fell 92 cents, or 1.9%, to $47.05 a barrel.

Oil extends rally amid coronavirus vaccine rollouts

December 11, 2020 2:45 pm

Brent was up 30 cents or 0.6% at $50.55 a barrel by 0752 GMT, after gaining nearly 3% on Thursday. US oil was up 31 cents, or 0.7%, at $47.09 a barrel, having also risen almost 3% in the previous session.

Crude oil prices extend gains on COVID vaccine hopes, OPEC+

November 23, 2020 11:59 am

Brent crude futures rose 21 cents, or 0.5%, to $45.17 a barrel by 0436 GMT while US West Texas Intermediate crude gained 10 cents, or 0.2%, to $42.52 a barrel. Both benchmarks jumped 5% last week.

Finance Ministry turns down proposal to cut cess on crude output

October 19, 2020 9:59 am

Experts noted that given the recovery in the price of Brent crude, oil-producing companies were not expecting any relief on oil cess from the government.

Azerbaijan-Armenia conflict isn’t spooking energy markets. Yet

September 28, 2020 6:49 pm

The conflict centers on the Nagorno-Karabakh region claimed by both countries. In theory, it has the potential to disrupt oil and gas flows from Azerbaijan, since export pipelines from the Caspian Sea region’s second-biggest crude producer run within just 10 miles of its border with Armenia.