It has been a difficult year for oil as a result of the Covid-19 pandemic, but many in the industry were hopeful that recent rebounds in prices signaled a stronger year in 2021. However, one agency doesn’t expect to see oil prices break past the $50 mark. According to the credit rating agency Fitch Rating, …
Read moreOil Prices Expected to Fall Below $50 in 2021 Despite Vaccine News
Oil prices have been quite tumultuous during the Covid-19 pandemic, with demand hitting record lows across the globe. However, recent attempts at recovery have helped prices climb back to more stable levels. Now, rising cases of Covid-19 and a new set of lockdowns in Europe has ended oil’s three-day win-streak and raises new concerns over …
Earlier this year, oil prices saw a substantial fall due to a lack of demand caused by Covid-19 and trade disputes between OPEC and Russia. While prices have begun to stabilize, it isn’t expected that they’ll see all that large of an increase in the fourth quarter. Going into the winter, analysts see prices for …
Read moreOil Prices Expected to Struggle in the Fourth Quarter
Oil prices have had a rather shaky year so far. The combination of the Covid-19 pandemic and the past trade disputes between OPEC and Russia caused prices to drop to decade lows, before slowly beginning to recover. Now, prices have seen another drop as concerns over demand flare up once more. On Tuesday, West Texas …
The oil industry is one of the many different industries which has been hit hard by the COVID-19 pandemic. A reduction in travel demand, along with production disputes between OPEC and Russia earlier in the year meant there was a massive supply of oil with effectively no demand. While things have begun to stabilize elsewhere, …
Read moreMajor Oil Producers Report Negative Second Quarter Results
Oil has remained a delicate market due to the COVID-19 pandemic and issues with overproduction. However, in a rather volatile session on Thursday, oil prices continued to climb based upon economic data indicating improvements in the U.S. economy. Brent crude, which is used as the global benchmark, rose by 1.7%, or 70 cents, to $41.01 …
The oil industry has been one of the most drastically impacted by the COVID-19 pandemic. After a drastic decline, recently the sector has shown signs of recovery. However, fears over a second wave of outbreaks have resulted in a new round of drops. On Thursday of last week, oil prices fell by over 10% after …
Read moreOil Drops Over 10% In Wake Of Second Virus Wave Fears
Last week, oil prices saw a substantial drop-off, before beginning a climb back to more-positive values. However, this growth didn’t last. In fact, many experts anticipate these prices could continue to slip yet again in the upcoming weeks. Both U.S. and international oil prices have been in flux all throughout the week. Last Monday, West …
Markets all over the world continue to be impacted by the spread of coronavirus, and oil is no different. As of Thursday of last week, prices for oil fell around 8% as demand continues to decrease. U.S. West Texas Intermediate crude oil prices have fallen down nearly 25% this week, its worst one week drop …
Read moreOil Prices Continue to Drop, Set for Worst Month in a Decade
Currently, Elon Musk’s Boring Co. has been quickly moving along with their plans to finalize its new underground transit system at the Las Vegas Convention Center. While this current loop is not yet finished, that hasn’t stopped the company from already preparing for its first expansion: a connection to the Las Vegas Strip. The Convention …
Read moreBoring Company May Soon Expand to the Las Vegas Strip
