Data from Refinitiv Eikon and Traders showed that Russia continued to increase its fuel oil exports to the United States, rising 16% in July compared to June, to 1.078 million tons, and replacing crude oil supplies from Venezuela. Demand for Russian fuel oil is also supported by its attractive price …
Read More »Chinese Oil Imports Jumped 25% in July
China’s imports of crude jumped 25% in July compared to a year ago, driven by the arrival of massive purchases that took place when prices collapsed in April and the customs clearance of some shipments delayed at ports in June. Data issued by the General Administration of Customs showed that …
Read More »Crude Oil Futures Lower During Asian Session
According to the New York Mercantile Exchange, crude oil futures for September were traded at $41.98 a barrel, up 0.07%. It was previously traded higher at $42.22 a barrel. Crude oil may find support at $39.58 and resistance at $43.52. The dollar index, which measures the performance of the greenback …
Read More »Oil Prices Settle Lower Over Recovery Concerns
Oil prices declined on Thursday, amid rising concerns about the prospects of economic recovery from the impacts of the COVID-19 pandemic. In addition, an increase in US natural gas inventories further pushed the worries for the recovery of the demand for energy. Brent crude futures for October delivery declined by …
Read More »Saudi Arabia Announces Crude Selling Prices For September
A document obtained by Reuters appeared that the giant Saudi National Oil Company Aramco announced on Thursday the official selling prices for the month of September for its light Arab crude. Saudi Arabia set the official selling price for its Arab Light crude to Asia at a premium of $ …
Read More »Crude Oil Futures Lower During Asian Session
According to the New York Mercantile Exchange, crude oil futures for September were traded at $42.14 a barrel, down 0.12%. It was previously traded at a session low of $42.02 a barrel. Crude oil may find support at $39.58 and resistance at $43.52. The dollar index, which measures the performance …
Read More »Oil Settles at Highest Level in Five Months
Oil prices settled higher on Wednesday, at its highest closing level in about five months, after data showed a more than expected decline in US crude inventories. Brent crude futures for October delivery closed higher by 74 cents or 1.7% at $45.17, its best since March 6. Meanwhile, the West …
Read More »Oil Prices at Highest Level in 5 Months
Oil prices rose on Wednesday to highest levels since early March after data showed a significant decline in US crude oil stockpiles, but fears of the second wave of Covid-19 capped the gains Brent crude rose 1.03 dollars, or 2.3%, to 45.46 dollars a barrel. WTI also rose $ 1.03, …
Read More »Crude Oil Futures Rose During Asian Session
Crude oil futures rose during the Asian session on Wednesday. According to the New York Mercantile Exchange, crude oil futures were traded for September at $41.69 a barrel, up 0.02%. It was previously traded at a session high of $41.73 a barrel. Crude oil may find support at $38.72 and …
Read More »Oil Finished at Highest Level in Five Months
Oil prices rose on Tuesday to its highest level in about five months, supported by positive economic data that signals the global recovery from the economic impacts of the COVID-19 crisis. The global benchmark Brent crude futures rose by 28 cents or 0.6% and settled at $44.43 per barrel, its …
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