Crude oil inventories in the United States declined by 7.6 million barrels last week, data showed on Wednesday. For the week ended June 18, gasoline stockpiles dropped by 2.9 million barrels, while distillate inventories increased by 1.8 million, according to the Energy Information Administration (EIA).
Read More »Oil Hits More Than Two-Year High Thanks to US Inventories
Oil topped $75 a barrel on Wednesday, hitting its highest since late 2018 after an industry report on crude inventories in the United States bolstered views of tight supplies in the market as travel grew in Europe and North America. Two market sources told Reuters that the American Petroleum Institute …
Read More »Crude Oil Maintains Gains, Eyes on Inventories
Oil, Crude, trading
Read More »U.S. Oil Inventory Down 7.2 M Barrels – API
Crude oil inventories in the United States fell by 7.2 million barrels last week, according to estimates by the American Petroleum Institute (API). Meanwhile, the stockpiles of gasoline and distillates rose by 959,000 and 992,000 barrels, respectively. Crude stocks at the storage hub in Cushing, Oklahoma, decreased by about 2.6 …
Read More »Oil Retreats from Year Highs to Close Lower
Oil prices declined on Tuesday, after rising for two consecutive days, amid expectations that the Organization of the Petroleum Exporting Countries (OPEC) and its OPEC+ allies might be raising production starting next August. Media reports pointed to discussions about more reductions into the current output cuts to raise production levels. …
Read More »Oil Rises on Optimism About a Quick Recovery in Global Demand
Crude oil prices rose on Tuesday, with Brent hitting $75 a barrel for the first time since April 2019, as investors remained optimistic about a quick recovery in global oil demand and as concerns eased about an early return of Iranian crude. Brent crude futures for August delivery rose 29 …
Read More »Crude Oil Continues to Record Gains
Oil, Crude, trading
Read More »Oil Finishes at Highest Levels since October 2018
Oil prices surged on Monday, amid expectations that sanctions on Iran will continue following the recent presidential election. In addition, expectation for demand recovery in the second half of the year continue to provide support to crude prices. Brent crude futures for August delivery gained $1.39, or 1.89%, and closed …
Read More »Dubai TV Interview, June 21, 2021
Speaking to Dubai TV on Monday, Mohamed Hashad, Director of Research and Development at Noor Capital, explained the recent developments impacting global markets, with anticipation for the upcoming events. Oil We can say that oil is one of the most important tools that has moved significantly over the past weeks …
Read More »Oil Prices Rise as Iran Talks Stall And Amid Strong Summer Demand
Oil prices rose on Monday, boosted by strong summer demand and a pause in talks to revive the nuclear deal, which could signal a delay in the resumption of supplies to OPEC member Iran. By the closing of Asian markets, Brent crude for August delivery was up 23 cents, or …
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