Oil prices open down on persistent oversupply worries

© Reuters. MELBOURNE (Reuters) – U.S. crude futures fell more than 5% in early trade on Monday, paring last week’s gains, on worries about oil oversupply and tempered hopes for an economic recovery as some U.S. states and cities around the world ease coronavirus pandemic restrictions. U.S. West Texas Intermediate (WTI) crude () futures fell […]

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Oil skids on oversupply fears, U.S. stock futures jump

© Reuters. By Swati Pandey SYDNEY (Reuters) – Oil prices skidded on Monday after Saudi-Russian output discussions showed no immediate signs of progress while U.S. stock futures jumped as investors were encouraged by a slowdown in coronavirus-related deaths and new cases. Sterling fell after British Prime Minister was admitted to hospital following persistent coronavirus symptoms […]

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Crude futures shed 14 cents to settle at $49.66 on oversupply jitters

© Reuters. OPEC extended production cuts for a period of nine-months through March 2018 last week Investing.com – Crude futures settled lower, as investors continued to question whether Opec and its allies’ agreement to only extend, but not deepen, production cuts would reduce excess supply while expectations for an uptick in Libyan oil output added […]

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Oil prices lower as persistent oversupply fears weigh

© Reuters. Oil prices lower as persistent oversupply fears weigh Investing.com – Oil prices fell on Tuesday as concerns about oversupply continued to weigh, despite the American summer driving season getting underway. were down 18 cents, or around 0.36%, to $ 49.64 a barrel by 07.52 GMT, after climbing above $ 50 per barrel earlier. […]

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