Oil rises on supply woes; demand concerns from coronavirus ease

📆 2/20/2020 4:45 AM
📰 Reuters

⏱ Reading Time:
35 sec. here
2 min. at publisher
📊 Quality Score:
News: 17%
Publisher: 97%

United States Headlines News

United States Latest News,United States Headlines

Oil prices rose on Thursday, extending gains from its previous session, as the m...

SINGAPORE - Oil prices rose on Thursday, extending gains from its previous session, as the market shifted focus to supply disruptions, while demand concerns eased some after a sharp drop in new coronavirus cases at the epicenter of the outbreak.

Brent crude futures LCOc1 were up 14 cents, or 0.2%, to $59.26 a barrel by 0505 GMT, after climbing to as high as $59.71 earlier in the day. The international benchmark rose 2.4% on Wednesday.“The supply disruptions are helping to alleviate the virus impact, but it is probably premature to think the worst of the economic impact is by and large over,” said Stephen Innes, chief market strategist at AxiCorp.

“The oil market is starting to realize that as bad as the demand destruction is from the coronavirus, the lack of exports from Libya might be meeting the oil demand destruction barrel for barrel,” said Phil Flynn, an analyst at Price Futures Group in Chicago.

Write Comment

I'm extremely sorry Bro/Sis for posting 4 times because twitter restricts my tweet by 75% time based on some algorithm. PLEASE FORGIVE ME......

I'm extremely sorry Bro/Sis for posting 4 times because twitter restricts my tweet by 75% time based on some algorithm. PLEASE FORGIVE ME.

Today night I have watched GOD, ALLAH, SHIV, Jade Emperor/Yuhuang Dadi, Kami, Yahweh, Nanak and Buddha in the SKY........Twinkle.......Twinkle.......Twinkle Please watch yourselves and collect as much blessings as you want......................

Today I saw GOD sitting inside SUN......He was keep on transforming in to ALLAH & SHIV every 2 sec....Three form GOD, ALLAH & SHIV every 2 sec. Could you please watch yourselves and confirm whether my MIND has gone out of order......So that I can visit any psychiatric hospital.

Today I saw GOD sitting inside SUN.....He was keep on transforming in to ALLAH & SHIV every 2 sec....Three form GOD, ALLAH & SHIV every 2 sec. Could you please watch yourselves and confirm whether my MIND has gone out of order...... So that I can visit any psychiatric hospital.

Millions of deaths because of Crimes & Health issues related to these VIRUS. Millions VS hundreds matter USE YOUR INTELLIGENT MIND TO UNDERSTAND THIS.

Please focus on other most devastating VIRUS of Smoking, Alcohol, Drug, PORN, Premarital Sex and Extramarital Affairs ALSO.

Please focus on other most devastating VIRUS of Smoking, Alcohol, Drug, PORN, Premarital Sex and Extramarital Affairs ALSO. Millions of deaths because of Crimes & Health issues related to these VIRUS. Millions VS hundreds matter USE YOUR INTELLIGENT MIND TO UNDERSTAND THIS.

Please focus on other most devastating VIRUS of Smoking, Alcohol, Drug, PORN, Premarital Sex and Extramarital Affairs ALSO. Millions of deaths because of Crimes & Health issues related to these VIRUS Millions VS hundreds matter USE YOUR INTELLIGENT MIND TO UNDERSTAND THIS.

Please focus on other most devastating VIRUS of Smoking, Alcohol, Drug, PORN, Premarital Sex and Extramarital Affairs ALSO Millions of deaths because of Crimes & Health issues related to these VIRUS. Millions VS hundreds matter USE YOUR INTELLIGENT MIND TO UNDERSTAND THIS.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Oil rises on supply worries, while virus-led demand concerns easeOil prices rose nearly 1% on Thursday, extending big gains from a day earlier, a... Really? oilandgas oilprice It’s been a scam: never controlled by demand and supply!! But, by geopolitics and terrorism Oil rises because they want to make more money. ClimateChangeIsReal sciencematters
Source: Reuters - 🏆 2. / 97 Read more »

Venezuela's Maduro taps sanctioned VP to 'restructure' oil industryVenezuelan President Nicolas Maduro said on Wednesday he would create a presiden... Add Photos A WICKED NATION S THE WORLD 👹 THIS UNITED STATES OF AMERICA 💔 THE COUNTRY OF RAMPANT WICKED ESCALATION REAP WHAT YOU'VE SOWED ! CHRIST JESUS KING Amen ... Photo So the drug kingpin is going to tell the former general how to shape up his oil business?
Source: Reuters - 🏆 2. / 97 Read more »

14 Best Oil Diffusers to Help You Relax, FinallySit back and smell the diffusers. You're cancelled. ejeancarroll
Source: ELLE Magazine (US) - 🏆 472. / 51 Read more »

Oil and gas production is contributing even more to global warming than was thought, study findsA new study found that fossil fuel production by humans is likely releasing far more methane -- a potent heat-trapping gas -- than previous estimates have shown, shining new light on the role the gas is playing in accelerating global warming. While they ignore Fukushima 4 plus meltdowns happening for the past 9years and killing the Pacific ocean Good thing the US is leading in declines! 👍 Why is the only answer to this 'vote democrat'
Source: CNN - 🏆 4. / 95 Read more »

Coronavirus Is Making The U.S. Oil And Gas Sectors Even SickerThe coronavirus is reverberating across the global economy and into the U.S. oil and gas industries, reducing demand and prices. And Trump may feel the impact.
Source: Forbes - 🏆 394. / 53 Read more »