Tag Archives: Oil

Oil prices fell on Monday, due to concerns and negative expectations for the global demand outlook. The global benchmark Brent crude futures settled lower by 22 cents, or 0.6%, at $39.61 per barrel. Meanwhile, the US West Texas Intermediate (WTI) crude futures closed lower by 7 cents, or 0.2%, at …

Oil prices rose today due to a tropical storm in the Gulf of Mexico, which forced companies to evacuate platforms and halt production. Still, the gains were limited by concerns about a glut in global supplies and a decrease in demand for fuel. By 06:29 GMT, US West Texas Intermediate …

Oil prices declined on Friday, logging their second consecutive weekly decline amid a mostly negative outlook for global demand. Brent crude futures for November delivery closed lower by 23 cents, or 0.6%, at $39.83 per barrel losing 6.6% for the week. Meanwhile, the West Texas Intermediate (WTI) futures for October …

Oil prices fell for a second day, as a sudden increase in US crude stocks negatively affected the sentiment, which is already suffering in light of the erosion of fuel demand with the continuing Corona pandemic. Brent crude fell 15 cents, or 0.4%, to $ 39.91 a barrel ahead of …

Oil prices finished lower on Thursday after data showed a rise in US crude inventories, amid concerns about the outlook for global demand recovery. Brent crude futures for November delivery declined by 73 cents, or 1.8%, and closed at $40.06 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude futures …

Crude oil inventories in the United States rose last week by 2 million barrels, as shown by the US Energy Information Administration (EIA) weekly report on Thursday. The increase in oil stockpiles, which came against market expectations of a 1.3 million barrel decline, ended six consecutive weeks of inventories decline.

US crude oil futures were trading on the positive side after several losses, and we indicated in our latest analysis that the continuation of the decline depends on confirming the break of 36.00 in order for oil to be able to form a strong floor around the aforementioned level. An …

US Energy Secretary Dan Brouillette said that Hurricane Laura caused massive damage to a site that houses about 30% of the country’s emergency crude oil reserves, but three other sites still have a lot of oil. The damaged Strategic Petroleum Reserve site in West Huckberry, Louisiana, contains nearly 8.2 billion …

Oil futures rose again on Wednesday to compensate for some of the losses of the previous session, but the renewed growth of Covid-19 infections in some countries undermined hopes for a steady recovery of global demand. Brent crude advanced $ 1.01, equivalent to 2.5%, to be settled at $40.79 a …

American Petroleum Institute data on Wednesday showed that US inventories of crude oil and distillates increased last week, while gasoline inventories declined. Crude inventories increased by 3 million barrels over the week ending in the fourth of September to about 504.1 million barrels, while analysts expected a decrease of 1.4 …