Tag Archives: Oil

Oil prices retreated, giving back some of the strong recent gains they have made, on expectations of a slower economic recovery and speculation that market strength may entice producers like Saudi Arabia to reduce production. Brent crude fell 35 cents, or 0.6%, to $ 61.12 a barrel with the opening …

Oil, Crude, trading

The rally of oil prices continued on Wednesday, supported by the decline in the United States crude inventories last week, as shown by the weekly report of the U.S. Energy Information Administration (EIA) earlier today. In addition, the prospects of increases government stimulus spending in the U.S. is proving support …

Commercial crude oil inventories in the United States decreased by 6.6 million barrels last week, data showed on Wednesday. Oil stockpiles in the U.S. stood at 469.0 million barrels in the week ending February 5, according to the weekly report of the U.S. Energy Information Administration (EIA). “U.S. crude oil …

Iraq Oil Minister HE Ihsan Abdul Jabbar Ismaael said on Wednesday that Iraq’s oil exports should average around 2.9 million barrels per day in February, as reported by Reuters. Ismaael added that he expects Brent prices ranging between $58 and $63 and noted that he doesn’t expect OPEC+ to make …

The US Energy Information Administration, on Tuesday, February 9th, reduced its forecast for global oil demand growth in 2021 by 180,000 barrels per day to 5.38 million barrels per day. In its monthly forecast, the administration raised its estimate of oil demand growth in 2022 by 190,000 barrels per day …

Oil prices fell on Wednesday, February 10, threatening to end the longest rise in two years as investors ignored sector data showing lower US crude oil inventories, boosting optimism about an expected increase in global demand for fuel. Brent crude fell cents to 61.08 dollars a barrel, after increasing about …

Oil, Crude, trading

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 …

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 …