Tag Archives: Oil

The Coronavirus pandemic has severely impacted the global oil industry, with crude prices hitting lows not seen in decades amid a decline in demand for energy in 2020. After starting the year with oil prices at $70 per barrel, supported by the recovery that was helped by the OPEC+ alliance …

Crude oil inventories in the United States declined by 6.1 million barrels last week, according to the weekly report by the U.S. Energy Information Administration (EIA).

Oil rose on Wednesday, December 30, as prices received a boost from a fiscal stimulus package to mitigate the repercussions of the Coronavirus in the United States and lower crude oil inventories. Brent crude futures rose 35 cents, or 0.7%, to $ 51.44 a barrel by 08:03 GMT, and US …

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 …

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 …

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 …

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 …

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 …

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 …

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 …