Tag Archives: Oil

Oil prices retreated further from the 11-month high that they touched last week, ending a rally that began at the end of October due to production cuts and strong Chinese demand, in light of questions about market direction amid the growing number of coronavirus cases. Brent crude was down 30 …

Oil, Crude, trading

Oil prices declined on Friday, giving up most of their weekly gains in a correction wave that follows recent surges amid continuous concerns about the rising number of new Coronavirus cases. Brent crude futures for March delivery declined by $1.32, or 2.3%, to close at $55.10 per barrel. For the …

Active rigs drilling for oil in the United States increased by 12 to 287 this week, according to the weekly report released on Friday by Baker Hughes. This is the eight consecutive weekly rise for the U.S. oil rig count. The total rig count, representing the number of active rigs …

The US Energy Department said Thursday it plans to sell up to about 20 million barrels of crude oil from the Strategic Petroleum Reserve, as dictated by two laws passed in 2015 and 2018. Both laws require the ministry to sell a little more than ten million barrels during the …

Oil prices plunged as fears about Chinese cities being subjected to general isolation measures due to the outbreak of the Coronavirus curbed a rally driven by strong import data from the world’s largest crude consumer and US plans for a stimulus package. Brent fell 46 cents, or 0.8%, to $ …

Oil, Crude, trading

Oil prices returned to gains on Thursday, finishing higher on the back of the rollout of Coronavirus vaccines and positive sentiment towards the expected increase in government stimulus spending in the United States as planned by the new administration. Brent crude futures for March delivery gained 36 cents, or 0.6%, to …

The consumer price index increased in KSA by 5.3% in December 2020 compared to the same month last year in December 2019, which is lower than the inflation rate for the previous month, November 2020. This price development is largely due to the increase in value-added tax from 5% to …

Oil prices rose Thursday, January 14th, after US crude stocks fell for the fifth week in a row and strong data from China showed a rise in imports, but the increase in global coronavirus infections curbed the gains. Brent crude futures gained 13 cents, or 0.2%, to $56.19 a barrel, …