Tag Archives: Oil

Oil prices rose for the second consecutive session, registering large gains on the back of a weaker U.S. Dollar (USD) and expectations of global demand recovery during the second half of the year. In addition, large draws in U.S. fuel inventories have eased fears of an oversupply, especially with the …

The Organization of the Petroleum Exporting Countries (OPEC) expects the recovery of the global demand for crude oil to be focused on the second half (H2) of 2021. OPEC’s monthly report, released on Thursday, expects global demand will rise by 5.89 million barrels per day (b/d) in 2021, raising its …

Oil prices rose Thursday, March 11th, as the distribution of vaccines to prevent Covid-19 boosted expectations for economic recovery, and US fuel stocks fell sharply, but a rise in crude stocks after a storm in Texas last month limited the gains. Brent crude futures for May delivery rose 20 cents, …

Oil, Crude, trading

Oil prices rose on Wednesday, after fluctuating throughout the session as data showed another large increase in crude inventories in the United States, alongside huge drops in gasoline and distillate stockpiles. Brent crude futures for May delivery finished higher by 38 cents, or 0.6%, at $67.90 per barrel. Meanwhile, the …

Crude oil inventories in the United States increased more than expected last week, data by the U.S. Energy Information Administration (EIA) showed on Wednesday. Oil stockpiles rose by 13.798 million barrels in the week ended on March 5, compared with a recent S&P Global Platts poll of market analysts that …

Oil, Crude, trading

Oil prices declined on Tuesday for the second consecutive session, amid expectations for a buildup in U.S. crude supplies. A recent S&P Global Platts poll of market analysts estimated that oil inventories increased last week by 2.7 million barrels, following a huge surge of 21.6 million barrels in the week …

Crude oil prices witnessed a deeper correction at the beginning of the week, and a barrel of West Texas Intermediate crude lost 2.4% on Monday after rising more than 7% last week. WTI reversed its trend, rising 2% to $65.85. OPEC’s decision last week to keep production cuts through April …

Oil prices retreated on Monday after jumping earlier in the session above $70 a barrel for the first time since the start of the Coronavirus crisis, following attacks on Saudi oil facilities. Brent crude futures, the world record, ended the trading session down $1.12, or the equivalent of 1.61%, to …