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Tuesday, May 26, 2026

January 8, 2021

Column: U.S. petroleum stocks nearing normal after wild 2020- oil and gas 360- oil and gas 360

Column: U.S. petroleum stocks nearing normal after wild 2020

January 8, 2021

Reuters LONDON – U.S. petroleum inventories ended last year approaching normal levels, as excess crude and product stocks accumulated during the Saudi-Russian volume war and coronavirus lockdowns were absorbed successfully. Total stocks of crude and products, excluding oil stored in the strategic petroleum reserve, ended the year 6% above the seasonal average for the previous five years, down from a

Oil rises above $55, set for weekly gain on Saudi output cut- oil and gas 360

Oil rises above $55, set for weekly gain on Saudi output cut

January 8, 2021

Reuters LONDON – Oil prices hit 11-month highs and were on track for a weekly gain on Friday, supported by Saudi Arabia’s pledge to cut output and a global stocks rally as investors looked beyond rising coronavirus cases. Brent crude climbed 88 cents, or 1.6%, to $55.26 a barrel by 1436 GMT, the highest since late February, and U.S. West

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