Tag Archives: Oil

Oil prices fell on Monday, December 7, from their highest levels in months, with the continuing increase in infections with the Coronavirus globally and renewed closure measures, the latest of which included the imposition of strict restrictions in southern California in the United States, the largest consumer of crude in …

Oil, Crude, trading

Oil prices rose on Friday, extending its weekly gains, supported by a positive reaction to the OPEC+ move, which is seen as an indicator of market recovery signs. Brent crude futures for February delivery rose by 54 cents, or 1.1%, to finish at $49.25 per barrel. For the week, the …

Active crude oil and natural gas rigs in the United States rose this week, for the eleventh time in 12 weeks. Oil and gas rig count increased by three to 323 in the week that ended on December 4, according to the Baker Hughes weekly report. Oil rigs alone increased …

Oil, Crude, trading

Oil prices rose on Thursday, despite media reports about an agreement within the OPEC+ alliance to raise production starting from January. OPEC+ is set to hold monthly meetings starting January to assess market conditions and decide on further production adjustments for the following month. Brent crude futures for February delivery …

Oil prices rose Thursday, December 3, after a dispute erupted between two producers, including Saudi Arabia and Russia, over the need to extend the deadline for record production cuts that began during the first wave of the Covid-19 pandemic. Brent crude rose 21 cents, or 0.4%, to $48.46 a barrel …

Oil, Crude, trading

Oil prices closed higher on Wednesday, amid anticipation for the OPEC+ alliance decision on production cuts. Brent crude futures for February delivery rose by 83 cents, or 1.8%, to finish at $48.25 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude futures for January delivery gained 73 cents, or 1.6%, …

US inventories of crude oil decreased while gasoline and distillate inventories rose, the US Energy Information Administration said Wednesday. Crude stocks fell by 679,000 barrels over the week ending November 27 to 488 million barrels, while analysts in a Reuters poll expected a drop of 2.4 million barrels. Crude stocks …