Crude oil inventories fell by 1.3 million barrels, American Petroleum Institute (API) data showed on Wednesday, after dropping 3.069 million barrels in the week prior.
U.S. crude inventories have grown by fewer than 10 million barrels so …
LONDON – Oil prices rose on Tuesday, recouping some of their losses in the previous session, as rising demand in Europe and the United States outweighed concerns over an increase in COVID cases in Asian countries.
Brent crude was …
The nation’s stockpiles of commercial crude oil plunged by nearly 5 million barrels last week as the United States continues to emerge as a net petroleum exporter at the end of 2019.
The U.S. is churning out record-high …
Oil steadied on signs of progress in trade talks between the U.S. and China, and estimates that American crude inventories retreated for the first time in five weeks.
Futures traded little changed near $58 a barrel in New …
OPEC said on Thursday it expected demand for its oil to fall in 2020 as rivals pumped more despite a smaller surplus of crude in the global market, building a case for the group to maintain supply curbs when …
Oil rose for a second day after an industry report pointed to a drop in U.S. inventories, and as OPEC said it sees potential for a “sharp” slowdown in American shale output next year.
Futures added 1.1% in …
Source: Reuters
NEW YORK (Reuters) – Oil prices ended Tuesday little changed after paring gains of about 1% following a speech from U.S. President Donald Trump that offered few new details about Washington’s trade talks with Beijing.
Concerns about slower …
From Reuters
Oil prices plummeted more than 7% on Thursday, with the U.S. benchmark posting its worst day in more than four years, after President Donald Trump said he would impose additional tariffs Chinese imports starting Sept. 1.
The drop …
From Reuters
Oil prices steadied on Thursday after sharp losses the previous session as the International Energy Agency (IEA) said the world’s oil supply cushion “might be stretched to the limit” due to production losses.
Benchmark Brent crude oil LCOc1 …
Crude oil inventories shrank for the fourth week in a row, according to information released from the Energy Information Administration. The total amount of crude in storage declined 2.6 MMBO, 1.2 …
Backwardation in the physical oil market is helping to draw down the number of barrels waiting in floating storage, according to a report from CNBC. An estimated 75-80 MMBO of …
Both Brent and WTI crude prices are up after falling earlier in the day on expectations of a 3 MMBO crude oil build. The build …
U.S. inventories of propane and propylene reached 97.7 million barrels as of September 11, the highest level in the 22 years that the Energy Information Administration (EIA) has collected weekly propane inventory …
