Tag Archives: Oil

Oil prices rose on Thursday, July 1, buoyed by falling US inventories, as investors awaited a decision from major producers on whether to maintain or ease supply cuts in the second half of the year. Brent crude for September delivery gained 15 cents, or 0.2%, to $74.77 a barrel, while …

Oil, Crude, trading

Oil prices finished higher on Wednesday, after data showed that U.S. crude inventories declined for the sixth consecutive week. Markets are anticipating the decision by members of the Organization of the Petroleum Exporting Countries (OPEC) and its OPEC+ allies on output curbs. Brent crude futures for September delivery gained 34 …

Crude oil inventories in the United States declined last week for the sixth consecutive week, according to official data. The U.S. Energy Information Administration (EIA) on Wednesday reported that crude inventories fell by 6.7 million barrels in the week to June 25. The drop in oil inventories exceeded most market …

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, the group known as OPEC+, is expected to discuss a potential extension of the oil supply deal beyond April 2022 on Thursday, Reuters reported, citing two OPEC+ sources.

According to a report seen by Reuters, an OPEC+ committee warned of “significant uncertainty” and the risk of a possible disruption to the global oil market after April 2022. The report also showed that the committee, known as the Joint Technical Committee, expects a surplus of oil by the end …

Oil, Crude, trading

Oil prices fluctuated on Tuesday, recovering from losses before giving up some of its daily gains, but managed to close higher with markets anticipating the coming OPEC+ decision on production policy. Concerns over the rising number of coronavirus (COVID-19) cases in a number of countries continue to limit the effect …

Oil prices fell for a second session on Tuesday, June 29, on concerns about slowing growth in fuel demand, as the outbreak of the most contagious delta from Covid-19 imposes new restrictions on movement around the world. Brent crude futures were down 26 cents, or 0.4%, at $74.42 a barrel, …

Oil, Crude, trading