Data from the American Petroleum Institute showed, Tuesday, that crude oil inventories in the United States fell more than expected last week, while gasoline and distillate stocks recorded a decrease, contrary to expectations. The data indicated that crude inventories fell by 4.8 million barrels in the week ending on the …
Read More »Oil Prices rising, supported by hopes that a US stimulus package will stimulate demand for fuel
Oil prices rose on Tuesday, supported by hopes that the United States will increase payments in an aid package linked to the pandemic, a move that could stimulate demand for fuel and stimulate economic growth. Brent crude futures, the world benchmark, ended the trading session up 23 cents, or 0.5 …
Read More »Oil Rises on Hopes for an Increase in Fuel Demand, With Support of US Stimulus
Oil prices rose on Tuesday (December 29th) as investors took the risk of supporting the United States’ move to increase aid payments linked to the pandemic, which could increase demand for fuel and spur economic growth. Brent crude rose 72 cents, equivalent to 1.4%, to $51.58 a barrel, while US …
Read More »Oil Prices Fall as US Stimulus Concerns Dominated Demand
The House of Representatives voted Monday to repeal President Donald Trump’s veto against an annual defence spending bill and put the final steps to challenge the Republican president in the hands of the Republican-led Senate. Senate Majority Leader Mitch McConnell said his House would vote to override the veto on …
Read More »Oil Cuts Losses After Trump Signs The Aid Bill
Oil prices trimmed losses today, Monday, after US President Donald Trump signed an aid package for those affected by the Coronavirus and public spending totaling $ 2.3 trillion, but market sentiment was affected by persistent concerns about demand in the near term. With the Asian markets closed, Brent crude futures …
Read More »Oil Closes the Week in Losses Ahead of Christmas
Oil prices rose slightly on Thursday ahead of the Christmas holiday, but ended the shortened week in losses. Crude prices remain supported by a decline in the United States oil stockpiles, as reported on Wednesday by the U.S. Energy Information Administration (EIA). Moreover, the number of active rigs drilling for …
Read More »Oil Settles Higher After Two Declines
Oil prices rose on Wednesday, showing positive recovery signs after two consecutive declines, supported by a decline in crude inventories in the United States. In addition, the decline of the US Dollar (USD) and renewed hopes for a Brexit trade deal are providing support for crude prices. Brent crude futures …
Read More »US Crude Oil Inventories Down 0.6 M Barrels
Crude oil inventories in the United States declined by 600,000 barrels last week, as shown by the data of the US Energy Information Administration (EIA) on Wednesday. Meanwhile, gasoline inventories declined by 1.1 million barrels, and distillate stockpiles fell by 2.3 million barrels.
Read More »Oil Retreating Due to a Sudden increase in US Inventories and Trump’s threat to stimulate
Oil prices fell by more than 1% Wednesday, December 23, after a sector report showed an unexpected increase in US crude oil inventories, while US President Donald Trump shocked the markets after he threatened not to sign a long-awaited aid package linked to Covid-19. Brent crude futures fell 71 cents, …
Read More »API: A Sudden Rise in US Crude Stocks Last Week
Data from the American Petroleum Institute on Tuesday showed that US inventories of crude oil rose in the latest week. Crude stocks rose 2.7 million barrels over the week ending December 18 to about 497.7 million, while analysts’ expectations in a Reuters poll indicated a decline of 3.2 million barrels. …
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