Tag Archives: Oil

Oil prices declined on Friday, amid expectations that major crude producers forming the OPEC+ alliance could decide to raise output next month. The fall in oil prices comes despite the continuity of cold weather conditions, due to a strong winter storm that led to the shutdown of major oil facilities, …

The number of active oil rigs in the United States declined this week, seeing their first weekly decrease since November 2020, according to data by Baker Hughes. Oil rigs in the U.S. decreased by one to a total of 305 this week, while rigs drilling for natural gas increased by …

Oil prices fell by more than 1% today, Friday, to continue declines recorded overnight, due to fears that refineries will take time to resume operations after a wave of freezing weather in the American South, causing a gap in demand, while OPEC+ supplies are expected to rise. Brent crude futures …

Oil, Crude, trading

Oil prices declined on Thursday, amid expectations that the OPEC+ alliance could raise production in March after the recent surges in crude prices. Crude prices recently not only recovered all of their losses since the beginning of the pandemic but reached their highest level since the beginning of 2020. It …

Crude oil inventories in the United States declined by 7.3 million barrels last week, data by the U.S. Energy Information Administration (EIA) showed on Thursday. The EIA weekly report was delayed for a day as the beginning of the week marked the Presidents Day federal holiday. Gasoline inventories increased by …

Oil prices erased gains made in early trading after Brent hit a new high in 13 months, surpassing $65 a barrel, as markets witnessed new buying due to fears that sudden cold weather in Texas could disrupt US crude production for days or perhaps weeks. Brent crude fell 3 cents, …

Oil prices rose again Thursday, February 18th, to reach their highest levels in 13 months, as markets witnessed new buying due to fears that the sudden cold weather in Texas could disrupt US crude production for days or perhaps weeks. Brent crude rose 89 cents, or 1.4%, to $65.23 a …

Oil, Crude, trading

Oil prices rose on Wednesday, as a strong winter storm not only disrupted crude production and refining in Texas but also led to an increased demand for energy and heat sources in parts of North America. In addition, crude prices remain supported by the commitment of the OPEC+ alliance to …