Oil turns lower, US crude drops 2%

Economies.com
2021-03-01 18:46PM UTC

Oil prices fell on Monday, and pared their early gains, lifted by hopes about the US stimulus.

 

The US House of Representatives passed President Joe Biden's $1.9 trillion Covid-19 relief package.

 

The dollar index rose against a basket of currencies by 0.2% to 91.08 points as of 19:33 GMT, after it hit a high of 91.1 points and a low of 90.6 points.

 

Most governments around the world are working relentlessly to end the Covid-19 pandemic with vaccination, and the US health authorities approved Johnson & Johnson's Covid-19 single-shot vaccine.

 

As of 18:30 GMT, WTI crude March futures fell 2% to $60.2 a barrel, after hitting a day high of $62.9 and a low of $59.9.

 

Brent May futures fell 1.5% to $63.4 a barrel, after hitting a high of $65.9 and a low of $63.1.

Commodities News

Oil News

Commodities

Oil prices extend gains after strong US growth data
2024-03-28 13:03PM UTC
Global Oil Prices Global oil prices extended their gains in American trade on Thursday and hit ...
Gold News

Commodities

Gold climbs as dollar stabilizes ahead of important data
2024-03-27 21:29PM UTC
Gold prices rose on Wednesday as markets await important US data this week while the dollar trades ...
Oil News

Commodities

US crude stocks rise unexpectedly
2024-03-27 15:39PM UTC
The Energy Information Administration reported a buildup of 3.2 million barrels in US crude stocks ...

Commodities Technical Analysis

Brent oil Analysis

Commodities

Brent oil price forecast update 28-03-2024
2024-03-28 10:19AM UTC
Brent Oil Price Analysis Brent oil price fluctuates within tight track since morning, settling ...
Oil Analysis

Commodities

Crude oil price forecast update 28-03-2024
2024-03-28 10:19AM UTC
Crude Oil Price Analysis Crude oil price settles around 82.00$ level since morning, and ...
Gold Analysis

Commodities

Gold price forecast update 28-03-2024
2024-03-28 10:19AM UTC
Gold Price Analysis Gold price shows new positive trades to touch 2200.00$ barrier, waiting for ...