Tag Archives: Americas Crudes

Oil prices rise 4% after biggest one-day fall since 1991

Oil prices rise 4% after biggest one-day fall since 1991

SINGAPORE (Reuters) – Oil prices rose by more than $1 on Tuesday after a price war by top producers Saudi Arabia and Russia sparked the biggest daily rout since the 1991 Gulf War, but investors saw little chance of a quick price recovery as the coronavirus cuts demand. FILE PHOTO: …

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Oil crashes after Saudi Arabia starts price war amid slumping demand

Oil crashes after Saudi Arabia starts price war amid slumping demand

TOKYO (Reuters) – Oil prices plummeted around 30% on Monday after Saudi Arabia slashed its official selling prices and set plans for a dramatic increase in crude production next month, starting a price war even as spread of the coronavirus erodes global demand growth. Prices fell by as much as …

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