Tag Archives: Oil Inventories

West Texas Intermediate crude dipped on Tuesday amid profit-taking though has recovered from session lows near $89.00 back above the $90.00 level.Analysts cited chatter about a potential US-Iran nuclear programme deal and President Macron’s Moscow visit as weighing on prices.Front-month WTI futures pulled back from close to seven-year highs on …

The US Energy Information Administration expects US oil production to exceed pre-pandemic levels over the next year, supported by a jump in shale oil production, with high prices spurring producers to increase production. In its January Short-Term Energy Outlook, the administration said average US crude production could record 12.4 million …

Brent crude futures edged higher to USD 74.2 per barrel on Wednesday, after rebounding more than 3% in the previous session, as shrinking inventories and an energy crunch in Europe more than offset worries about new restrictions to combat the Omicron spread that could dent fuel demand. Oil prices fell …

US crude stocks fell more than expected in the most recent week due to year-end tax considerations, analysts said, while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday.Crude inventories fell by 4.7 million barrels in the week to Dec. 17 to 423.6 million barrels, compared with …

Brent crude futures edged higher to USD 74.2 per barrel on Wednesday, after rebounding more than 3% in the previous session, as shrinking inventories and an energy crunch in Europe more than offset worries about new restrictions to combat the Omicron spread that could dent fuel demand. Government data showed …

The American Petroleum Institute (API) reported a small inventory build in crude oil that was just enough to keep the market from panicking because of declining inventories. This week, the API estimated the inventory for crude oil to be 655,000 barrels.U.S. crude inventories are now 60 million barrels below the …

The Energy Information Administration reported on Wednesday that U.S. crude inventories rose by 1 million barrels for the week ended Nov. 5.The fresh data matches the average increase expected by analysts polled by S&P Global Platts. The American Petroleum Institute on Tuesday reported a 2.5 million-barrel decline, according to sources. …

Prices of the barrel of the U. S. benchmark for the sweet light crude oil have remained on the defensive and approach the $81.00 mark midweek.Crude oil prices lose ground for the second successive session on Wednesday and threaten to breach the $81.00 mark per barrel following another unexpected build …

The U. S. session witnessed no significant developments in terms of economic data. Positive corporate earning posts continued to back Wall Street and benchmark indexes.Wall Street cheered solid earnings from several health care companies. Abbott Laboratories for medical devices and drugs rose 3.6% beating Q3 estimates. Health insurer Anthem rose …

Crude oil inventories in the United States declined by 5.8 million barrels last week, according to the weekly report from the American Petroleum Institute (API). Meanwhile, gasoline stockpiles rose by 1.9 million barrels, while distillate inventories added 4.4 million barrels.