Tag Archives: Oil

Oil prices increased on Monday, recovering from losses earlier in the session, amid hoped for improved demand on the back of a new stimulus package, which is set to be approved by the US Congress soon. The West Texas Intermediate (WTI) futures for September delivery settled higher by 31 cents …

Oil prices closed higher on Friday, ending a week of fluctuations due to a collection of upward and downward factors. From one side, demand seems to be in the recovery phase, hence, the recent OPEC+ agreement to raise output by 2 million barrels per day, in addition to other positive …

Oil rigs in the United States increased by one rig last week to a total of 181 active rigs, according to data by Baker Hughes. This is the first increase in oil rigs since mid-March, with recent declines attributed to lower oil prices amidst decreased demand because of the COVID-19 …

Oil prices rose on Friday on the weakness of the US dollar, although concerns about the increasing numbers of COVID-19 cases and tensions between the United States and China have capped price movements. The US dollar fell to a 22-month low on the US dollar index, which measures the strength …

Oil prices declined on Thursday after recent data showed a surprise buildup in the US crude oil inventories, as well as natural gas supplies, prompting worries about the demand recovery as the number of COVID-19 cases increase. The US benchmark, West Texas Intermediate (WTI), crude futures for September delivery declined …

Oil prices rose on Thursday, but an unexpected increase in US crude stocks and the continued increase in new cases of Covid-19 discouraged the recovery in demand for fuel and limit gains. US crude oil inventories and distillates rose unexpectedly while fuel demand fell last week, the US Energy Information …

Oil prices settled slightly lower on Wednesday after data showed a surprise buildup in US crude inventories, coupled with concerns regarding the increased number of COVID-19 cases. US benchmark crude, the West Texas Intermediate (WTI), futures for September settled lower by 0.05% at $41.90 per barrel, recovering most of its …

Crude oil inventories in the United States increased by 4.9 million barrels during the week ending July 17, according to data by the US Energy Information Administration (EIA) on Wednesday. A decline between 575,000 and 1.9 million barrels was expected by market experts and surveys. On Tuesday, data by the …

Baker Hughes Oilfield Services announced on Wednesday that it posted its second quarterly loss this year and warned that it was preparing for a longer period of fluctuation after falling oil prices undermined demand for services. The net loss attributable increased to $ 201 million, or 31 cents per share, …

Oil prices rose on Tuesday, with a larger-than-expected increase in US, and the increase in cases of Covid19 may lead to an increase in fuel demand in the largest oil consumer in the world. Brent crude futures for September delivery are currently trading at $ 44.29 a barrel, down by …