Oil prices edged lower on Monday as rising coronavirus cases and tensions between the United States and China pushed investors toward safe-haven assets.
FILE PHOTO: Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020. REUTERS/Drone Base
Still, Brent is on track for a fourth straight monthly gain in July and WTI is set to rise for a third month as unprecedented supply cuts from the Organization of the Petroleum Countries and its allies including Russia propped up prices. Output has also fallen in the United States. Investors are also watching for any impact from storm Hanna, which battered the Texas coast over the weekend, threatening heavy rains in Texas and Mexico. Oil and gas producers and refiners said on Friday that they did not expect the storm to affect operations.
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 slips as rising coronavirus cases, U.S.-China tensions weigh on marketsOil prices edged down on Monday as rising coronavirus cases and tensions between the United States and China pushed investors toward safe-haven assets.
Read more »
China imports more oil from Saudi than any other country in JuneChina's crude oil imports from Saudi Arabia rose 15% in June from a year ago, as refiners ordered record volumes of the fuel in March and April when oil prices tumbled, cementing the kingdom's position as the top oil supplier to China.
Read more »
Mainland China reports 46 new coronavirus cases, including 22 in XinjiangChina reported 46 cases of the new coronavirus in the mainland for July 25, up from 34 cases a day earlier, the health commission said on Sunday.
Read more »
Mainland China reports 61 new coronavirus cases, including 41 in XinjiangChina reported 61 new coronavirus cases in the mainland for July 26, up from 46 cases a day earlier, the health commission said on Monday.
Read more »
China reports 46 new Covid-19 cases – latest updatesChina reports 46 Covid-19 cases in the mainland. Here are other updates: 🇧🇷 Brazil registers 1,211 new deaths 🇱🇧 Lebanon sees highest daily count of cases 🇺🇸 US marks over 68,000 cases Read more:
Read more »
Pertamina first-half oil production slightly below target: statementPT Pertamina, Indonesia's state-owned oil and gas company, produced 414,400 barrels per day (bpd) and 2,721 million cubic feet of natural gas per day (mmcfd) in January to June this year, the company said in a statement on Monday.
Read more »