Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Palestinian platforms: Settlers storm Al-Aqsa Mosque complex under the protection of the occupation police
Palestinian platforms: The IOF detonated a booby-trapped robot east of the al-Zaytoun neighborhood, south of Gaza City
Syrian Defense: We call on all parties in Sweida to cooperate with security forces and exercise restraint
Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation
Al Mayadeen's correspondent: It has not yet been determined whether the detainees belong to ISIS or another organization
Al Mayadeen's correspondent: Around 10 people of different nationalities, including Lebanese nationals, were detained
Al Mayadeen's correspondent: The Lebanese army arrested a number of people in the Matn area of Mount Lebanon with possession it has not disclosed
Gaza Civil Defense spokesman: We have strong indications that there are martyrs, injuries, and trapped people in the Salah al-Din area
Gaza Civil Defense spokesman: Citizens should avoid Salah al-Din Street because anyone who approaches it is at risk of being directly targeted
Gaza Civil Defense spokesman: Reality is that there is a very limited retreat of the vehicles, with the occupation forces providing cover undeer fire up to Salah al-Din Street

Oil Prices Drop, Going for Weekly Gains

  • By Al-Mayadeen
  • Source: Al-Mayadeen
  • 30 Jul 2021 12:29
2 Min Read

West Texas Intermediate crude futures also fell 0.6 percent to $73.19 a barrel, as well as Brent crude futures fell 0.6 percent to $75.60 a barrel.

  • x
  • A drop in oil prices during trading
    A drop in oil prices during trading

Oil prices fell during trading today, but they are still on track to achieve significant weekly gains, in light of the growth in demand for crude at a faster pace than supply.

Brent crude futures fell 0.6% to $75.60 a barrel by 05:06 GMT, after jumping 1.75% on Thursday.

Meanwhile, US West Texas Intermediate crude futures also fell 0.6 percent to $73.19 a barrel, reducing the gain it made on Thursday by 1.7%.

Related News

Oil prices decline for third day as Gaza ceasefire continues to stall

Election year likely to shelve US enforcement of sanctions on Iran

"Oil prices pulled back slightly amid cautious sentiment across the Asia Pacific markets as investors weighed virus concerns and weaker-than-expected U.S. GDP and jobs data," said Margaret Yang, a strategist at Singapore-based DailyFX.

The two benchmark futures are on track to climb roughly 2% this week, boosted by signs of limited crude supply and strong demand in the United States, the world's top oil consumer.

"Oil prices are riding the tailwind of a weakening US dollar as investors expect [Federal Open Markets Committee chair] Jerome Powell to reiterate his dovish stance at Wednesday's FOMC meeting," said Yang. “Lingering pandemic concerns and the emerging of the delta variant may cast a shadow over the outlook for energy demand, capping the upside," he continued. 

Oil prices rose by nearly a dollar on Monday. Concerns about demand caused by the spread of the Delta variant of the Coronavirus, as well as torrential rains in China, dispelled expectations of tight supplies during the rest of the year.

Brent crude futures for September delivery fell 95 cents - or 1.3% - to $73.15 a barrel. On the other hand, US West Texas Intermediate crude reached $71.11 a barrel, down 96 cents. Earlier, the two contracts went down more than a dollar.

  • Brent
  • crudefutures
  • westtexas
  • economics
  • Oil prices

Most Read

Hezbollah SG reveals war details on Al Mayadeen for the first time

Hezbollah SG reveals war details on Al Mayadeen for the first time

  • Politics
  • 8 Jul 2025
Major ambush in Gaza kills 6 Israeli troops, injures dozens

Major ambush in Gaza kills 5 Israeli troops, injures 14

  • Politics
  • 8 Jul 2025
Israeli soldiers are seen in Beit Hanoun ahead of an operation by the al-Qassam Brigades, undated (Al-Qassam Brigades Military Media)

'Israel' on blast as media exposes report discrepancies in Gaza ambush

  • Palestine
  • 8 Jul 2025
Yemen Navy sinks ETERNITY C ship, shares footage of operation

Yemen Navy sinks ETERNITY C ship, shares footage of operation

  • Politics
  • 9 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
The Freedom Flotilla ship Handala as it departs for Gaza, where it aims to break the maritime blockade at a port in Syracuse, Sicily in southern Italy on July 13, 2025. (AFP)
Palestine

Freedom Flotilla's Handala departs Sicily in bid to break Gaza siege

The container ship CMA CGM Laperouse, left, docks at the Georgia Ports Authority's Port of Savannah, Sept. 29, 2021, in Savannah, Ga (AP)
Politics

US shipbuilding woes deepen as tariffs, outdated policies backfire

Gaza war raises ethical questions for ex-Obama, Biden officials
Politics

Mercenary firm tied to Gaza war crimes hires Obama-Biden PR operatives

'Israel' targets children in Gaza collecting water
Palestine

'Israel' strikes Gaza kids fetching water, blames it on 'malfunction'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS