Oil rose to $45 a barrel during Europen session for the first time in 10 weeks. Where the apparent decline in US crude inventories reinforced the rise in oil prices, which was mainly supported by Pfizer’s vaccine. The American Petroleum Institute (API) reported that crude inventories fell 5.15 million barrels …
Read More »API: A Sharp Decline in Crude And Gasoline Inventories in the United States Last Week
Data from the American Petroleum Institute on Tuesday showed that crude oil inventories in the United States fell sharply last week. Crude stocks fell by 5.1 million barrels in the week ending on the sixth of November to about 482 million barrels, while analysts polled by Reuters had expected a …
Read More »Oil Rising 3% on Vaccine Hopes Despite Lockdowns
Oil prices jumped about 3% today, Tuesday, after hopes that a vaccine for Covid-19 looms on the horizon on concern about a drop in fuel demand due to new measures for public isolation to contain the Coronavirus Brent crude ended the world record for the nearest trading session maturity, up …
Read More »Oil Receives Good Support
Oil, Crude, trading
Read More »Oil Maintains Gains; Brent Closes at $43.6 a Barrel
Oil prices rose on Tuesday, for the second session in a row, supported by improved sentiment on the success of Coronavirus vaccine trials. Brent crude futures for January delivery increased by $1.21, or 2.9%, to close at $43.61 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude futures for December …
Read More »Vitol CEO Expects Oil Prices to Rise Towards $50 a Barrel
Vitol CEO Russell Hardy said oil prices will be heading towards a range of $ 45- $ 49 a barrel or even $ 50 in the next few months, with inventory drawdown modest during the winter and this accelerating through mid-2021. The benchmark Brent crude was trading at around $ …
Read More »Oil Falls on Worries About Weak Demand And COVID-19 Vaccine
Oil prices fell on Tuesday, November 10 as concerns about short-term fuel demand in Europe and the United States, affected by the Coronavirus, chased the market after an overnight rally led by encouraging news about a vaccine for Covid-19. US West Texas Intermediate crude futures fell 55 cents, or about …
Read More »Oil is Making Its Way Towards Positivity
Oil, Crude, trading
Read More »Oil Achieves Best Gains in Five Months
Oil prices rose on Monday, supported by an improved outlook for demand recovery after it was reported that a vaccine against the Coronavirus is showing success, as announced by Pfizer earlier today. Brent crude futures for January delivery surged by $2.95, or 7.5%, to settle at $42.40 per barrel. This …
Read More »Brent Crude Exceeds $ 40, After Increased Risk Appetite With Biden’s Victory
Oil prices gained more than 2% on Monday, November 9, while Brent crude futures rose above $ 40 a barrel, after Joe Biden won the US presidency and boosted risk appetite, offsetting concerns about the impact of the worsening coronavirus pandemic on demand. Brent crude futures for January delivery rose …
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