Tag Archives: Oil

Crude oil prices fell Thursday, August 13, after OPEC said it expects demand for its oil to decline more than expected, although US government data showed a decline in inventories, indicating that demand is returning despite the Coronavirus pandemic. Brent crude fell eight cents to $ 45.35 a barrel by …

Oil prices increased on Wednesday, reaching their highest level in about five months, supported by the decrease in U.S. crude inventories. Brent crude futures for October delivery settled higher by 93 cents, or 2.1%, at $45.43 per barrel, its highest closing level since March 5. Meanwhile, the West Texas Intermediate …

Oil prices rose on Wednesday, August 12, after a report from the sector showed that US crude stocks fell by more than analysts’ expectations, boosting hopes that demand for fuel in the world’s largest economy can survive the Coronavirus pandemic. Brent crude rose 52 cents, or 1.2%, to $ 45.02 …

The United States crude oil inventories decreased by 4.4 million barrels last week, according to data by the American Petroleum Institute (API) released on Tuesday. The U.S. crude stockpiles now stand at around 516 million barrels. Meanwhile, gasoline inventories fell by 1.3 million barrels, while distillate stockpiles declined by 2.9 …

Oil prices decline on Tuesday, after rising earlier in the session to its highest level in about five months, amidst concerns about a second COVID-19 wave as the number of cases increase in many countries. In addition, the market is still anticipating passing the second stimulus package by the U.S. …

The U.S. Energy Information Administration (EIA) said on Tuesday that it expects crude oil production in the United States to decline by 990,000 barrels per day (b/d) in 2020 to 11.26 million b/d. This implies a higher decline than what was forecasted last month, at 600,000 b/d. The EIA now …

Crude oil prices rose on Tuesday 11 August, supported by expectations of US stimulus that will help launch the largest consumer of oil in the world, and a recovery in Asian demand as economies reopen. Brent crude added 29 cents, or 0.6%, to $ 45.28 a barrel by 08:19 GMT. …

Oil prices rose on Monday, supported by Saudi optimism about Asian demand and an Iraqi pledge to deepen supply cuts, but uncertainty over an agreement to support the US economic recovery limited the gains. By 0641 GMT, Brent crude futures were up 34 cents or 0.8%, to $ 44.74 a …

Oil prices fell on Friday, reducing its weekly gains, amid an increased uncertainty about economic recovery from the COVID-19 crisis and the subsequent recovery of the demand for crude oil. Brent crude futures settled lower by 69 cents or 1.5% at $44.40 per barrel, adding 2.5% for the week. Meanwhile, …

U.S. oil and natural gas rigs declined this week to a record low for the 14th consecutive week, Reuters reported. The rig count fell by four rigs to an all-time low of 247 rigs for the week ending on August 7, according to data by Baker Hughes. The number of …