Oil, Crude, trading
Read More »Oil Settles at Highest Level Since March
Oil prices closed higher on Monday, opening the week with a positive performance, supported by positive news about Coronavirus vaccines. Brent crude futures for January delivery surged by $1.10, or 2.5%, to settle at $46.06 per barrel. This is the highest closing level for the global benchmark active contracts since …
Read More »Barclays Bank Keeps Its Forecast For Oil Price in 2021
Barclays Bank maintained its oil price forecast for 2021 and expected Brent crude to reach $ 53 a barrel due to OPEC and its allies controlling production and based on the promotion of a potential Covid-19 vaccine demand in the second half of the year. In the short term, the …
Read More »Oil Prices Continue Their Gains Thanks to Hopes of Corona Vaccine
Oil prices rose 1% on Monday, November 23, to continue their gains, as traders expect a recovery in crude demand due to successful trials of a vaccine for the Coronavirus. Sentiment boosted hopes that OPEC, Russia and other producers, a group known as OPEC +, would continue to curb production. …
Read More »Crude Oil Navigating Higher
Oil, Crude, trading
Read More »US Oil Rigs Down by Five in Week
Active rigs drilling for crude oil in the United States declined by five this week, according to the weekly report by Baker Hughes. Oil rigs now stand at 231, data showed on Friday, after recording their first weekly decline in about two months. Meanwhile, natural gas rigs increased by three, …
Read More »Oil Reiterating The Upside Chances
Oil, Crude, trading
Read More »Oil May See Temporary Declines
Oil, Crude, trading
Read More »Oil Rises to Highest Level in Two Months
Oil prices rose on Wednesday, closing at their highest level since early September, supported by an improved outlook due to recent developments in Coronavirus vaccine research. Brent crude futures for January delivery rose by 59 cents, or 1.4%, to finish at $44.34 per barrel. Meanwhile, the West Texas Intermediate (WTI) …
Read More »US Crude Inventories Rise in Week
Crude oil inventories in the United States increased last week by 800,000 barrels, according to data by the US Energy Information Administration (EIA) on Wednesday. By the end of 13 November, American crude stockpiles stood at 489.5 million barrels. Meanwhile, gasoline inventories increased by 2.6 million barrels last week, while …
Read More »