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Crude Oil

OPEC boosts crude production

Latest survey has shown that the Organization of Petroleum Exporting Countries (OPEC) boosted crude production in August, last month, as it continued the revival of supplies halted during the COVID-19 pandemic, but some members…

Oil extends losses

Oil prices fell on Friday, extending declines in the prior session, as the dollar strengthened on the prospect of interest rate hikes in the US. Demand worries also resurfaced after new coronavirus cases jumped in Britain,…

Crude Oil Prices rise further

Crude oil prices have risen further, after the Energy Information Administration (EIA) reported a 7.4-million-barrel draw/build in inventories for the week to June 11. While Brent crude traded at $74.44 a barrel, West Texas Intermediate…

Oil Rises, But Ends Week on a Sour Note

Oil futures regained ground on Friday, with West Texas Intermediate (WTI) crude settling above the $62 a barrel level after upbeat economic data for the US, including PMIs and new homes sales, lifted hopes of a fast recovery in fuel demand.…