Oil prices fell for the sixth consecutive day, declining by about 9% in the week, as a new bout of Covid-19 cases, especially in Europe, imposed new general restrictive measures and dampened hopes for an imminent oil’s demand recovery. US West Texas Intermediate crude fell four cents, or 0.07 percent, …
Read More »Oil Declining For The Fifth Consecutive Day After The Rise in US Inventories
Oil prices fell for the fifth consecutive day on Thursday, March 18th, after official data revealed a sustained increase in crude and fuel stocks in the United States, while the ongoing pandemic clouded the outlook for demand. Brent crude fell 37 cents, or 0.5%, to $ 67.63 a barrel, after …
Read More »Oil Declines as U.S. Inventories Rise and Supercycle Ruled Out
Oil prices declined on Wednesday amid continuous concerns about the recovery of global demand, as well as the fourth consecutive weekly rise in U.S. crude inventories. Brent crude futures for May delivery closed lower by about 0.6% at $67.98 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude futures for …
Read More »U.S. Oil Inventories Rise 2.4 M Barrels in Week
Crude oil inventories in the United States increased by about 2.4 million barrels last week, according to the weekly report of the U.S. Energy Information Administration (EIA). Oil stockpiles totaled 500.8 million barrels for the week ending March 12, 2021. Meanwhile, gasoline inventories increased by 0.5 million barrels, while distillate …
Read More »Oil Settled as demand Concerns Address a Sudden Drop in US Inventories
Oil prices varied on Wednesday, March 17th, as concerns over volatile demand in Europe addressed hopes for a recovery in US refining activities, while industry data showed that US crude inventories fell unexpectedly last week. Brent futures were down 7 cents, or 0.1%, to $ 68.32 a barrel after initially …
Read More »Oil Maintains Losses for Third Day
Oil prices continued to decline for the third consecutive session on Tuesday, amid concerns about the recovery of the global demand and overcoming the Coronavirus crisis. Brent crude futures finished lower by 49 cents at $68.39 per barrel. Meanwhile, the West Texas Intermediate (WTI) futures plunged by 59 cents and …
Read More »Oil Falling as Demand Worries Increase on The Increase in Inventories
Oil prices fell for the third session in a row on Tuesday (March 16th), as an increase in stocks in the United States exacerbated concerns about risks facing demand, with countries including Germany and France halting vaccinations to prevent Covid-19. Brent crude fell 49 cents, equivalent to 0.7%, to $ …
Read More »Oil Finishes Lower Despite Positive Demand Outlook
Oil prices continued to decline on Monday, for the second consecutive session, despite positive expectations for global demand recovery, as the U.S. Dollar (USD) continued to show rebound signs, despite the passing of the $1.9 trillion stimulus package. The global benchmark Brent crude futures for May delivery finished lower by …
Read More »Brent Crude Heading to $70 as The Outlook For Chinese Energy Demand Improves
Oil prices rose today, and Brent is heading towards the level of seventy dollars a barrel, as data show the acceleration of the Chinese economic recovery at the beginning of 2021, which supports the energy demand of the largest importer of oil in the world. Brent crude for May delivery …
Read More »Oil Maintains a Bullish Scenario
Oil, Crude, trading
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