Oil Falls on Resurgence of Virus Cases, Oversupply

Oil prices dropped on Friday and were headed for weekly declines as inventories rose and record-breaking new coronavirus cases in the United States stoked concern about the pace of economic recovery and fuel demand. Brent crude was down by 46 cents, or 1.1%, at $41.89 a barrel, and U.S. oil fell...

Oil Stuck in Tight Trading Range Set for Weekly Drop on Virus

Oil in New York is heading for a weekly decline as surging coronavirus cases raised fresh concerns about demand, while the market is continuing to grapple with ample supply. Futures are down 2.2% this week after fluctuating in the tightest trading range since December. Surging infections...

Oil falls, with U.S. benchmark settling back under $40 as coronavirus concerns swirl

Oil futures fell on Thursday, with U.S. benchmark prices settling back below $40 a barrel, as commodity traders contended with rising cases of coronavirus in the U.S. and some other countries that may threaten to unsettle demand for crude. August West Texas Intermediate crude fell by $1.28, or...

Oil Steady as Coronavirus Fears Offset Gasoline Recovery Signs

Concerns about renewed coronavirus lockdowns in the United States outweighed signs of a recovery in U.S. gasoline demand on Thursday to keep a lid on oil prices. The market is also in a holding pattern ahead of a meeting on July 15 of the market monitoring panel of the Organization of the...

Oil Anchored Near $41 With Gains Capped by Rising Stockpiles

Oil was anchored near $41 a barrel in New York with swelling U.S. crude stockpiles raising fresh concerns about supply, while coronavirus cases continued to surge across the world. Stockpiles at the key storage hub of Cushing expanded for the first time since early May as...

Oil rises on improving U.S. gasoline demand

Oil prices edged up on Wednesday on signs of a recovery in gasoline consumption in the United States, but rising U.S. crude inventories and an increase in coronavirus infections limited gains. Brent crude futures rose 25 cents to $43.37 a barrel. West Texas Intermediate crude futures settled 28...

Oil Stuck Below $41 With Signs U.S. Crude Stockpiles Swelled

Oil was anchored below $41 a barrel with an industry report signaling a surprise gain in U.S. crude stockpiles, while concerns linger about the threat to demand from rising coronavirus infections. The American Petroleum Institute reported inventories rose by 2.05 million barrels...