Oil Price Rises To $40   Oil prices rose more than two per cent on Tuesday, supported by hurricane supply disruptions in the United States, but demand concerns loomed as energy industry forecasters predicted a slower-than-expected recovery from the pandemic. Brent crude gained 92 cents, or 2.3...

Oil Rises Slightly To $40, Demand Concerns Persist       Crude oil prices on Wednesday clawed back some of the losses they sustained in the previous session, but a rebound in COVID-19 cases in some countries undermined hopes for a steady recovery in global demand. The international oil...

COVID-19: Second-wave Fears Threaten Oil Demand Recovery     The recent oil price gains may be short-lived as growing fears over a resurgence in COVID-19 cases are putting the world’s oil demand recovery on hold, sparking concerns over a new supply glut in the coming months, according...

Oil Rises To $38 As OPEC+ Discusses Production Cut Extension   The Organisation of Petroleum Exporting Countries and its allies led by Russia are moving closer to a compromise on extending current oil output cuts and are discussing a proposal to roll over supply curbs for...

Oil Prices Fall As Fuel Demand Sinks   Oil prices fell on Wednesday despite a massive pending United States economic stimulus package as the coronavirus pandemic sharply dented US fuel demand in the latest week, with traders bracing for further declines. Demand for oil products, especially jet...

Oil Declines To $28, Dollar Exchanges For N369   The price of Brent crude oil, the international benchmark, extended its decline on Tuesday, trading around $28 per barrel. Brent, against which Nigeria’s crude is priced, fell by $1.40 to $28.65 per barrel as of 8:15 pm Nigerian...