Tag Archives: Oil

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 …

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. …

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 …

Oil, Crude, trading

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 …

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 …

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 …

Oil, Crude, trading

Oil prices rebounded on Friday, with crude futures recovering on the back of positive expectations for demand recovery despite the U.S. Dollar (USD) surge after the hawkish change in tone by the Federal Reserve. Brent crude futures for August delivery increased by 43 cents, or 0.6%, and closed at the …

OPEC sources said that OPEC officials have heard from industry experts that US oil production growth will likely remain limited in 2021 despite higher prices, giving the organization more leverage to manage the market in the short term before a possible strong increase in shale crude production in 2022. Officials …