Tag Archives: Oil

Oil prices closed higher on Thursday, after OPEC+ expressed the importance of commitment to the output cuts. Brent crude futures for November delivery increased by $1.08, or 2.6%, and settled at $43.30 per barrel. The West Texas Intermediate (WTI) futures for October delivery finished higher by 81 cents, or 2%, …

Russian Energy Minister Alexander Novak said in an opening speech to an OPEC + committee meeting via the Internet that he urged participants in the group’s oil production cut agreement to fully adhere to the pledged cuts. He also said that the monitoring committee should discuss the impact of the …

Oil prices fell Thursday, September 17th, after rising strongly in the previous two sessions as concerns about weak demand re-emerged as producers in the Gulf of Mexico prepare to resume production after Hurricane Sally. Brent crude futures fell 67 cents, or 1.6%, to $ 41.55 a barrel by 06:28 GMT, …

Oil prices rose on Wednesday, amid output disruptions in North America, particularly in the Gulf of Mexico, and after the US Energy Information Administration (EIA) reported a decline in crude inventories last week. Brent crude futures for November delivery increased by $1.69, or 4.2%, to finish at $42.22 per barrel. …

Data of the United States Energy Information Administration’s (EIA) weekly report showed on Wednesday that crude oil inventories in the US declined by 4.4 million barrels last week. This comes against market analysts’ expectations of a 1.27 million barrel rise in US oil stockpiles.

Brent crude was up 24 cents to 39.85 dollars a barrel, while US West Texas Intermediate crude futures increased 33 cents to $ 37.59. Both contracts were down on Monday. The rally in oil contracts comes just before Hurricane Sally is expected to hit the US coast on the Gulf …

American Petroleum Institute data on Tuesday showed a decline in US stocks of crude oil last week, while gasoline inventories rose. Crude inventories declined by 9.5 million barrels over the week ending September 11 to about 494.6 million barrels, while analysts expected an increase of 1.3 million barrels. Crude stocks …

Oil prices rose on Tuesday, amid output disruptions in North America, despite continuous concerns about the outlook for global demand. Brent crude futures for November delivery increased by 92 cents, or 2.3%, and finished at $40.53 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude futures for October delivery added …

The International Energy Agency reduced its forecast for oil demand this year, indicating caution about the pace of the economic recovery from the Corona pandemic. The Paris-based agency lowered its forecast for 2020 by 200,000 bpd to 91.7 million bpd, the second cut of its oil demand forecast in several …

Oil prices fell on Tuesday, September 15th, as a result of concerns about a slow recovery of global demand for fuel that has been hit by the Coronavirus pandemic, in light of a warning about pessimistic expectations from major oil producers. Brent crude fell four cents, equivalent to 0.1%, to …