Receive our newsletter – data, insights and analysis delivered to you
  1. Uncategorised
May 6, 2020

American oil prices fall after steady gains

By Matthew Farmer

After days of steady gains, West Texas Intermediate oil prices have fallen by around 7% today.

This is linked to expectations in the US government’s upcoming report on its oil stockpile. Investors expect the report to show inventories grew by 7.1m barrels.

Meanwhile, Russian Deputy Energy Minister Pavel Sorokin has told reporters he does not expect global oil demand to return to its pre-crisis levels quickly.

Related Companies

Content from our partners
Green investment: What gives Scotland multiple advantages
How the North of Tyne region is leveraging its legacy to define its future
Q&A with Chevron Lubricants’ Paul Sly, global industrial OEM specialist, and Nathan Knotts, global brand technical manager
Topics in this article:
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU