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Oil Edges Higher With Weaker Dollar Amid Mixed Demand Outlook Bloomberg 3 hrs ago Andres Guerra Luz (Bloomberg) -- Oil edged higher with help from a weakening dollar while a worsening demand picture in parts of the world continued to hold back prices from another breakout. Futures in New York rose 0.4% Monday after trading in a $1 range during the session. Total road fuel sales in France remained lower compared to the same time in 2019, while a key refiner in India is slashing oil processing rates as the virus rapidly spreads and lockdowns pummel fuel use in the country. The...

Oil pared gains with prices struggling to break out of its recent trading range.

Oil pared gains with prices struggling to break out of its recent trading range as the market considers the jagged outlook for global fuel consumption.

Oil posts its worst week in three with recovery in focus Bloomberg Oil posted its worst week in three amid concerns that rising global COVID-19 cases are slowing the economic recovery. West Texas Intermediate for May delivery on Friday dropped 0.47 percent to US$59.32 a barrel, and ended the week down 3.47 percent, its biggest weekly loss since the middle of last month. Brent Crude for May delivery fell 0.4 percent to US$62.95, declining 2.94 percent from a week earlier. The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas, on Nov. 24, 2019. P...

Oil Posts Worst Week in Three With Demand Recovery in Focus Bloomberg 1 day ago Andres Guerra Luz (Bloomberg) -- Oil posted its worst week in three amid concerns that rising global coronavirus cases are slowing the economic recovery. West Texas Intermediate futures ended the week down 3.5%, the biggest weekly loss since mid-March. With the Organization of Petroleum Exporting Countries and its allies planning to start raising output, markets are now focused on whether the demand recovery will be enough to absorb growing supplies. While consumption is climbing in India and the...