Tag Archives: Oil

The Organization of the Petroleum Exporting Countries (OPEC) has maintained its forecast for demand growth this year. The global demand for crude oil is expected to rise by 6 million barrels per day, reaching 96.58 million barrels a day, according to OPEC’s monthly report released on Thursday. The forecasted demand …

Brent crude futures fell 36 cents, or 0.5%, to $71.86 a barrel, while US oil futures fell 35 cents, or 0.5%, to $69.61 a barrel. The US Energy Information Administration said on Wednesday that US crude oil stocks, which include strategic petroleum reserves, fell for the eleventh consecutive week as …

Oil, Crude, trading

Oil prices showed a mixed performance on Wednesday, after the weekly inventories report in the U.S. showed a huge surge in gasoline stockpiles. The U.S. crude benchmark futures declined, while the global benchmark settled nearly unchanged, despite a decline in crude inventories in the United States. The rise in gasoline …

Crude Oil Stocks Change in the US was -5.2 million barrels in the week ending June 4, the weekly report published by the US Energy Information Administration (EIA) revealed on Wednesday. Analysts’ estimate was for a decrease of 2 million barrels.

Oil prices rose for a second session on Wednesday, June 9, thanks to indications of strong demand for fuel in Western economies, while prospects for a return of Iranian supplies dissipated as the US Secretary of State said sanctions against Tehran were unlikely to be lifted. Brent crude futures rose …

Oil prices extended losses on Tuesday, June 8, as Chinese data revealing a decline in the country’s imports of crude in May highlighted concern about the fragility of the global recovery in demand for crude and fuel. Brent crude was down 49 cents, or 0.7%, at $71 a barrel, after …

Oil, Crude, trading

Oil prices closed lower on Monday, giving up their two-year highs that were registered by the end of last week. A drop in Chinese oil imports might have discouraged the positive expectations for demand recovery in the coming months. Brent crude futures for August delivery declined by 40 cents, or …

Oil fell on Monday, after hitting a two-year peak above $72, on pressure from a possible increase in Iran’s exports, but the recovery in demand and supply restrictions from OPEC + provided some support. Demand increases in the United States and Europe with the easing of restrictions related to COVID-19, …