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TOKYO: Oil prices advanced on Thursday as a drawdown of US crude inventories and output cuts by major producers helped ease concerns about a supply glut, though lingering fears over the global economic fallout from the Covid-19 pandemic capped gains.
NEW YORK: Oil prices rallied on Wednesday after U.S. crude inventories fell in the most recent week, but gains were capped by worries over the economic fallout from the coronavirus pandemic and weak refining margins.
NEW YORK: A gauge of global equities broke out of a three-week trading range on Wednesday as investors bet on a rapid recovery from the coronavirus-induced recession.
SINGAPORE: Oil prices jumped by more than US$1 a barrel on Monday to their highest in more than a month, supported by ongoing output cuts and signs of gradual recovery in fuel demand as more countries ease curbs imposed to stop the coronavirus pandemic spreading
NEW YORK: U.S. crude prices jumped 7% on Friday to their highest since March, on strengthening fuel demand as countries around the world eased travel restrictions they had imposed to curb the spread of the coronavirus.
NEW YORK: Oil prices fell about 2% on Wednesday despite the first decline in U.S. crude inventories since January, as the U.S. Federal Reserve chairman stoked demand fears with a solemn address warning the economy would take many months to recover from the coronavirus pandemic
OIL headed for its first back-to-back weekly gain since February as output cuts from the biggest producers and a nascent recovery in demand began to rebalance a market awash with crude.
NEW YORK: Oil prices slipped on Thursday as global supply and demand worries erased earlier gains seen from an increase in Saudi Arabia's official crude selling price and a surprise rise in Chinese exports last month.
NEW YORK: Oil climbed after losing more than a quarter of its value over the past two days with volatility likely to continue on concern prices may drop below zero again as investors and a major fund exit the June contract.
PETALING JAYA: The possibilities for the recurrence of a subzero West Texas Intermediate (WTI) price remain low but the oil and gas (O&G) industry is still facing choppy waters.