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Oil, Crude, trading
Read More »Oil Continues to Climb
U.S. Oil Inventories Down 3.5 M Barrels: API
Crude oil inventories in the United States declined by 3.5 million barrels last week, according to the weekly report of the American Petroleum Institute (API) released on Tuesday. During the week ending February 5, gasoline stockpiles rose by 4.8 million barrels, while distillate inventories decreased by 487,000 barrels. It is …
Read More »Oil Maintains Rally and Scores Best Gains in a Year
Oil prices continued to rise on Tuesday, reaching a new year-high level after declining earlier in the session. The rally of crude prices is supported by the commitment of major producers, an alliance known as OPEC+, to output curbs. In addition, hopes for economic recovery and the anticipation for a …
Read More »Oil Rises to Its Highest Level in 13 Months Thanks to Production Cuts And Hopes of Recovery in Demand
Oil prices rose on Tuesday, February 9th, to their highest in 13 months, as energy markets received support from major producers cutting supplies and optimism about a recovery in fuel demand. Brent crude futures for April delivery were 50 cents, or 0.8%, at $ 61.06 a barrel. US West Texas …
Read More »Crude Oil Close to $60.00
Oil, Crude, trading
Read More »Oil Prices Rise Again with Brent Exceeding $60 per Barrel
Oil prices continued to rise on Monday, with the global benchmark crude reaching the $60 a barrel level for the first time in about a year. This comes amid the commitment of the OPEC+ alliance to output curbs, improved expectations for the recovery of global demand, and anticipation for a …
Read More »Brent Hits $60 on Supply Cuts And Stimulus Hopes
Oil prices rose to their highest levels in just over a year, with Brent crude futures exceeding $60 a barrel, supported by supply cuts from major producers and hopes for more US economic stimulus measures to support demand. Brent crude for April delivery touched $60.06 a barrel, its peak since …
Read More »Oil Continues to Make Gains
Oil, Crude, trading
Read More »Oil Prices Closes Higher and Extend Large Weekly Gains
Oil prices rose on Friday, extending their weekly gains, most of which came on the back of the commitment of the OPEC+ alliance to the agreed-upon production cuts. This week, oil prices kept rising to new highs not seen in a year. Brent crude futures for April delivery rose by …
Read More »U.S. Oil Rig Count Rises for 11th Week in Row
The number of active rigs drilling for crude oil and natural gas in the United States increased by 8 this week, according to the weekly reported released by Baker Hughes on Friday. The total rig count currently stands at 392, less by 398 rigs compared with the same time of …
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