Tag: oil prices
Business Oil & Gas Top Story

Oil prices rise as optimism over economy outweighs fuel demand concerns

Oil prices climbed on Tuesday as optimism that government stimulus will buoy global economic growth and oil demand trumped concerns that renewed COVID-19 pandemic lockdowns globally could cool fuel consumption. U.S. West Texas Intermediate crude was at $52.52 a barrel, up 16 cents, or 0.3%. There was no settlement on Monday as U.S. markets were Read More…
Business Oil & Gas Top Story

Oil slips again as new coronavirus strain proves ‘nightmare before Christmas’

Oil prices fell on Tuesday, extending sharp losses overnight, as the rapid spread of a new strain of the novel coronavirus in the United Kingdom prompted several countries to close their borders to British travellers and freight. The U.S. West Texas Intermediate crude futures dropped 30 cents, or 0.6 per cent, to $47.67 a barrel Read More…