Markets

‘There is potential this could go even lower.’ Oil prices plunge to 17-year lows as demand drop threatens to overwhelm storage facilities.

Crude oil prices tanked Monday as continued fears over the coronavirus pandemic slammed energy demand. West Texas Intermediate (WTI) the US benchmark dropped below $US20 a barrel in Asian trading while Brent crude hit $US23.03, its lowest price since 2002. The ongoing price war between producers Russia and Saudi Arabia […]
‘There is potential this could go even lower.’ Oil prices plunge to 17-year lows as demand drop threatens to overwhelm storage facilities.
Markets

Here’s why Trump wants to shut Iran out of the oil market

The US will reimpose oil sanctions against Iran on Monday. Eight countries are set to receive sanctions waivers. But they could still end up squeezing global oil supply. In the wake of President Donald Trump’s withdrawal from the Iran nuclear deal earlier this year, Washington will reinstate more economic penalties […]
Here’s why Trump wants to shut Iran out of the oil market
Markets

Oil tumbles below $70, hits lowest level in nearly a month

Oil prices sank to their lowest point in nearly a month, with the US benchmark shedding nearly 3%. The Energy Information Agency reported a fourth week of US crude buildup. Watch oil trade in real time here. Oil prices tumbled Wednesday to their lowest level since September after government data […]
Oil tumbles below $70, hits lowest level in nearly a month
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