Oil Down Over Demand Recovery Warnings and Hong Kong Protests

Oil was down on Wednesday morning in Asia on the back of analyst warnings over the fragile demand recovery. Brent oil futures were down 0.17% to $36.11 by 12:40 AM ET (5:40 AM GMT) and WTI futures fell 0.32% to $234.24 as investors retreated from the black liquid. The warnings came as the United States heads into its.

Russia’s Energy Minister Sees Oil Market Rebalancing By July

Amid the coronavirus pandemic, oil demand has plummeted over the last few months but Russia’s oil minister sees the global supply and demand situation rebalancing within two months, according to RIA sources, cited by Reuters. Russia’s Energy Ministry expects oil demand to improve in May, and notes that we are already seeing major shifts to global.

Oil Gains on Hopes for Demand Rebound as Virus Lockdowns Ease

Oil prices rose in Asia after the head of the International Energy Agency gave an upbeat assessment on the prospects for a demand recovery as coronavirus restrictions are lifted around the world. Futures in New York were up 1.4% from Friday’s closing price. There was no settlement in the U.S. market on Monday due to.

Why Bitcoin Miners Should Head To Oil Country

In 2017, bitcoin burst into the global consciousness when it soared from below $1,000 to nearly $20,000. It then just as quickly dropped out of the limelight as it crashed to below $4,000 and investors began to doubt claims that it would become the global currency of the future. But while bitcoin may have dropped.

Oil Up on Back of Russian Production Cuts

Oil was up on Tuesday morning in Asia with Russian expectations of a rebalancing of the market by June or July. Russia is one of the top oil producers in the world. Brent oil futures rose 1.58% to $36.09 by 12:21 PM ET (5:21 AM GMT). There was no settlement of WTI futures due to a holiday in.

Oil Demand Will Take Months to Recover in No. 3 Buyer India

It’s going to take months for oil demand in the world’s third-biggest market to get back to pre-virus levels as India faces its deepest recession ever in the wake of its near two-month lockdown. Once the engine of global oil demand growth, India’s fuel consumption collapsed by as much as 70% at one stage last.

Oil Rises as Supply Cuts, Improving Demand Signal Recovery

Oil gained in a day of choppy trading as investors weighed supply cuts and a demand rebound against an ominous economic outlook from the Federal Reserve. West Texas Intermediate crude for July delivery rose 1%. Output cuts by the world’s largest producers are whittling down a supply glut while oil consumption is recovering as economies.

Malaysia’s Petronas inks first LNG virtual deal

Malaysia’s national oil firm, Petroleum Nasional Bhd, has concluded a sales and purchase agreement with Tiger Clean Energy Limited (TCEL) via video teleconference to supply a tank facility on the island of Borneo, it said on Wednesday. Petronas will supply TCEL’s LNG ISO Tank Filling Facility at Bintulu in Sarawak for onward distribution to China..

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