Oil prices fell Thursday, November 5, as Democratic candidate Joe Biden approaches victory in the exciting US presidential election, but Republicans are likely to retain control of the Senate, reducing the chances of implementing any major easing package from the repercussions of the Covid-19 pandemic. By 07:56 GMT, WTI futures …
Read More »EIA: Crude Inventories Fell Significantly in Past Week
The US Energy Information Administration said on Wednesday that crude oil inventories in the United States fell significantly in the past week, while gasoline inventories rose and distillate stocks decreased. Crude stocks fell by 8 million barrels in the week to October 30, compared to analysts’ expectations in a Reuters …
Read More »EIA: Weekly Crude Exports Fell to The Lowest Level Since January
According to data from the US Energy Information Administration, weekly US crude oil exports fell by 1.2 million barrels per day to about 2.3 million barrels per day last week, the largest drop since January, as Hurricane Zita disrupted flows. Meanwhile, distillate stocks in the Gulf of Mexico in the …
Read More »Oil Posts Noticeable Gains
Oil, Crude, trading
Read More »Oil Settles Higher on Stockpiles Draw
Oil prices rose on Wednesday, after data showed a decline in US crude oil inventories. Data by the US Energy Information Administration (EIA) showed on Wednesday that crude oil inventories in the United States declined by 8 million barrels for the week ended October 30. Brent futures for January delivery …
Read More »US Crude Oil Inventories Down in Week
Crude oil inventories in the United States declined by 8 million barrels last week, according to data by the US Energy Information Administration (EIA) on Wednesday. Meanwhile, gasoline stockpiles increased by 1.5 million barrels, while distillate stockpiles decreased by 1.6 million barrels.
Read More »Oil Falls After Trump Questions Integrity of Election
Oil turned down Wednesday, November 4th, after the US President questioned the integrity of the elections, despite millions of votes not being counted, and the final results are not expected to be announced before several days. US West Texas Intermediate crude fell 15 cents, equivalent to 0.4%, to $ 37.51 …
Read More »Oil Climbs Amid High Risk
Oil, Crude, trading
Read More »Oil Settles at Highest Level in a Week
Oil prices rose on Tuesday to their highest level in a week on election day, on the hopes for a new stimulus package following the US elections and commitment from the OPEC+ to maintain output curbs. Brent crude futures for January delivery gained 74 cents, or 1.9%, to close at …
Read More »Saudi Aramco Q3 Profit Slumps 44.6%
Saudi Aramco, the world’s largest oil producer, said its third-quarter profit fell by 45% from last year’s level, largely due to lower crude oil prices and lower sales volumes. Aramco said in a statement today, Tuesday, that Aramco’s net profit amounted to 44.2 billion riyals (11.8 billion dollars), while sales …
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