Oil prices dropped more than 7% on Thursday amid a broader market sell-off as fears over a second wave of coronavirus cases led to investors shedding assets.
Oil has been rallying on the back of an uptick in demand paired with record supply cuts, but data on Wednesday from the U.S. Energy Information Administration showed a surprise build in inventory, suggesting that the demand recovery may have stalled.
Another key driver of WTI's recent recovery, which has seen prices jump more than 50% in the last month, has been producers curbing output. Over the weekend, OPEC and its oil-producing allies agreed to extend its record production curb — equivalent to about 10% of pre-coronavirus global demand — through the end of July.
But with oil moving higher in recent weeks, some producers have begun to open the taps once again, which could send prices lower. "How prices develop further will depend a lot [on] how much and how quickly this shut production will come back to business," she added.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Libya's National Oil Corporation declares force majeure on its largest oil field after shutdown by militiaLibya's National Oil Corporation has declared force majeure on exports from its largest oil field Tuesday, after a militia group shut it down just days after it resumed production following a six-month blockade.
続きを読む »
Goldman traders gain $1 billion in commodities revenue after oil slumpGoldman Sachs Group Inc commodities unit generated more than $1 billion in revenue this year through May as traders positioned their bets for the collapse in oil prices, a source familiar with the group's finances said on Wednesday.
続きを読む »
Oil prices slide on concerns about patchy demand recovery, record U.S. stocksOil prices fell in early trade on Thursday on worries about slow demand growth with coronavirus cases rising, U.S. crude stockpiles hitting an all-time high and the U.S. Federal Reserve projecting recovery from the pandemic would take years.
続きを読む »
Oil falls towards $40 as U.S. inventory rise revives glut worriesOil fell more than 1% towards $40 a barrel on Wednesday after a report showed a rise in crude inventories in the United States, reviving concerns about oversupply and weak demand due to the coronavirus crisis.
続きを読む »
The US shale oil industry could collapse unless oil prices bounce back soon, a think-tank warns | Markets InsiderThe Institute for Economics and Peace warned on Wednesday the US shale industry could collapse if oil prices do not recover to pre-pandemic leve...
続きを読む »
Wall Street 2021 oil price outlook, energy stocks to buy now - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
続きを読む »