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    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

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    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

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    Oil rises further from 3-week lows, but headwinds loom amid pandemic

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Oil prices have rallied after turning negative for the first time ever.

July 12, 2020
in Oil Price
Oil prices have rallied after turning negative for the first time ever.
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FILE PHOTO: A TORC Oil & Gas pump jack is seen near Granum, Alberta, Canada May 6, 2020. REUTERS/Todd Korol/File PhotoReuters

  • Oil prices experienced a wild ride in recent months as a global price-war and a slide to negative levels shook the market.
  • The world’s most-traded commodity has mostly rebounded in May from its late-April lows, but traders still fear a prolonged demand pressure fueled by the coronavirus.
  • Here’s a timeline of key events in the recovering oil market, from the start of the worldwide price conflict to its latest upswing.
  • Watch oil trade live here.

Latest Oil MArket NewsPosts

DAILY OIL PRICE: July 30

U.S. shale investors shamed by oil price crash, posts worst quarter since

DAILY OIL PRICE: July 28

Over the last two months, oil prices surged, slipped, and briefly hit negative levels amid the coronavirus pandemic and growing global tensions.

The world’s most-traded commodity is hot off several historic price moves and soaring back to its highest levels since early March. Volatility in the oil market contributed to major stock sell-offs through March and April after the pandemic already drove wild price swings. With major economies unwinding lockdowns and oil demand slowly returning to the market, one of the commodity’s most turbulent periods has seemingly come to a close.

Here’s a timeline of key events in the recovering market, from the spark of a global price war to oil’s latest rally.

Read more: GOLDMAN SACHS: These are the 20 stocks hedge funds piled into most aggressively last quarter — and history suggests they’re set for big gains



Read More:
Oil prices have rallied after turning negative for the first time ever.

Tags: BBrent crudecrude oilMarketsnegativeoilOil priceOil price crashpricesralliedtimeturningWall StreetWest Texas IntermediateWest Texas Intermediate oilWest Texas Intermediate oil priceWTIWTI Crudewti crude oil

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