oil market Archives - Panorama Insurance Brokers

Oil prices take biggest one-day hit since March after OPEC+ agreed to boost output

(Reuters) – Oil slumped more than $5 a barrel on Monday, headed for its worst day since March, after OPEC+ agreed to boost output, stoking fears of a surplus as rising COVID-19 infections in many countries threaten demand. Crude oil’s year-long surge has been sputtering for most of the last two weeks with the prospect… Read More

Oil prices slip as new poll shows COVID-19 cases rising in 69 countries

(Reuters) – Crude futures slipped on Monday as concerns over slowing global growth outweighed the prospect of tightening supply after talks among key producers to raise output in coming months stalled. Brent crude for September fell 73 cents, or 1%, to $74.82 a barrel by 0900 GMT while U.S. West Texas Intermediate crude for August… Read More

VLCC fixtures shrouded in secrecy in ailing tanker market

(S&P Global Platts) A mostly transparent VLCC market is witnessing an increase in deals being concluded privately as a dismal freight market is offering charterers the luxury to quietly pick and choose their preferred owners as well as keep fixtures under wraps. The weakness permeating the current supertanker market is such that for every VLCC-sized… Read More