Tag Archives: Oil

Oil prices rose on Wednesday after official data showed a decline in crude inventories in the United States last week. Crude inventories declined by 4.1 million barrels for the week ended July 23, according to the U.S. Energy Information Administration (EIA). Gasoline stockpiles fell by 2.3 million barrels and distillate …

Oil prices rose on Wednesday, July 28, after industry data showed inventories of US crude and products fell more than expected last week, fueling speculation that demand will outpace supply growth even as COVID-19 cases grow. Brent crude futures were up 38 cents, or 0.5%, at $ 74.86 a barrel, …

Oil prices finished marginally lower on Tuesday, amid uncertainty and continued concerns about a potential downturn in demand recovery due to the spread of the Delta variant of the novel coronavirus. Despite the recent decision by the OPEC+ alliance to further ease output cuts and continue to raise production gradually …

Oil prices stabilized on Tuesday, July 27, as investors bet that tight supply and growing vaccination rates would ease demand from the rise in Covid-19 cases around the world. Brent crude futures were up one cent at $74.51 a barrel. And US intermediate crude contracts fell eight cents, or 0.1%, …

Oil prices recovered from most of its earlier losses on Monday, but showed a mixed performance, with continuous concerns about recovery and the sustainability of production policies. However, most expectations are leaning towards a tight supply until the end of the year. In addition, markets are focusing on the coming …

Oil prices fell nearly a dollar on Monday as concerns about demand caused by the spread of mutated strains of the Coronavirus, as well as torrential rains in China, dispelled expectations of tight supplies for the rest of the year. Brent crude futures for September delivery fell 95 cents, or …

Oil prices continued to rise on Friday for the fourth consecutive session, scoring their first weekly rise in four weeks, with investors shrugging off concerns about output policy and a slower than expected recovery from the coronavirus crisis. The global benchmark Brent crude futures for September delivery added 31 cents …

The number of crude oil and natural gas rigs in the United States increased for the fourth consecutive week, data showed on Friday. This is the first time that the total rig count registers four straight weekly rises since May. The total rig count rose by seven to 491 in …

Oil prices fell from the level of $ 74 a barrel on Friday, July 23. Still, it is on track to end the week with little change, after rebounding from a sharp decline on Monday, supported by expectations that supply will remain tight despite the recovery in demand. Oil prices …

Barclays Bank said on Thursday that supply and demand factors in the oil market predict a slow increase in prices over the next few months and raised its forecast for the price of crude oil in 2021 by between three and five dollars a barrel. “Oil prices could rise to …