Tag Archives: Oil

Crude oil inventories in the United States dropped more than expected last week, according to the latest official data released on Thursday. Inventories plunged by 5.08 million barrels, more than double the decrease of 2.4 million barrels that was expected by market analysts, the Energy Information Administration (EIA) report for …

Oil, Crude, trading

Oil prices finished higher on Wednesday at their best level in about two years, as the results of the most recent OPEC+ summit projected stability and positive expectations for demand recovery during the second half of the year. Brent crude futures for August delivery gained $1.1, or 1.6%, to close …

Oil prices rose after OPEC and its allies agreed to commit to a cautious return to oil supplies to the market in June and July, with expectations of a strong recovery in demand in the United States and China, the world’s largest oil consumers. US West Texas Intermediate crude rose …

Oil, Crude, trading

Oil futures registered gains on Tuesday, with markets positively reacting to the Organization of the Petroleum Exporting Countries’ (OPEC) and its OPEC+ allies deciding to commit to the current easing cycle of output cuts that was agreed in response to the Coronavirus crisis. Brent crude futures for August delivery gained …

Oil prices rose on Tuesday, June 1, to record Brent $71 and its highest level since March, thanks to expectations of growth in fuel demand in the summer travel season in the United States. Prices were also boosted by Chinese data showing factory activity grew at its fastest pace this …

Three OPEC sources told Reuters that OPEC+ is likely to stick to the current pace of gradual easing of oil supply restrictions at Tuesday’s meeting, as producers weigh their expectations of a demand recovery against a possible increase in Iran’s supply. The Organization of the Petroleum Exporting Countries (OPEC) and …

Oil prices rose on Tuesday, June 1 ahead of a meeting of the OPEC+ alliance, buoyed by hopes of growth in fuel demand in the coming months as the summer driving season begins in the United States, the world’s largest oil consumer. Prices also received a boost from Chinese data …

Oil, Crude, trading