West Texas Intermediate traded above $81 a barrel after a run of four daily gains
Oil prices have weakened this month on concerns about demand
Oil is trading near the lowest level since September
Oil has lost about a third of its value since early June on concerns over a global economic slowdown and aggressive monetary tightening by central banks
Crude is on course to gain in October following a run of four monthly declines
Analysts say there’s only about 2 million barrels a day of capacity that could be brought online quickly should there be a supply shutdowns
West Texas Intermediate was steady below $77 a barrel after sinking more than 8 per cent over the previous two sessions
A supply crunch has sent oil and natural gas prices soaring since the pandemic
West Texas Intermediate traded near $84 a barrel after closing almost 2 per cent lower on Tuesday following a volatile session
Oil and gas investments slumped from $700bn in 2014 to $300bn in 2021, according to Aramco’s chief executive officer, Amin Nasser
Crude futures have tumbled almost 25 per cent over the past three months
GDP overall grew a revised 12.2 per cent from a year earlier, the fastest since 2011
Oil has made a weak start to September, extending a run of three monthly losses
Commodities including oil have also faced a headwind this month from gains in the dollar
The Organization of Petroleum Exporting Countries and its allies convene on September 5
Crude is heading for a weekly gain as signs of a tightening supply outlook offset concerns over an economic slowdown
A stronger dollar has also added to headwinds for commodities
Investors are also facing the prospect of rising supply as demand moderates
The OPEC+ alliance will meet via video conference on August 3 to decide on future production policy
West Texas Intermediate dropped toward $98 a barrel after sinking almost 7 per cent in July
West Texas Intermediate futures climbed near $98 a barrel after closing 2.4 per cent higher in the previous session
The region’s largest sovereign wealth funds have been involved in at least $28.6bn worth of acquisitions outside the Middle East and Africa this year
West Texas Intermediate futures edged lower toward $96 a barrel after rising 2.1 per cent on Monday
Crude has slumped since mid-June as concerns about a potential recession ripped through commodity markets
West Texas Intermediate tumbled below $91 a barrel on Thursday
Demand for motor fuel plunged last week to the lowest seasonal level since 1996
West Texas Intermediate futures fell for a third session to its lowest level in three months
Crude has tumbled since early June on escalating fears of a slowdown as central banks raise rates to combat rampant inflation
West Texas Intermediate fell below $98 a barrel and has shed about 10 per cent so far this week
The company’s investments during the contract extension period is expected to reach another $7-8bn