BOE Report Oil was steady in trade on Wednesday morning, paring two straight days of gains after an industry report showed U.S. crude inventories rose unexpectedly last week in a sign fuel demand may be weakening. U.S. West Texas Intermediate (WTI) crude futures slightly rose 26 cents, or 0.37%, at $69.72. Brent futures, which have risen more than 3%
Nasdaq U.S. crude stocks surged by more than 9 million barrels, in part due to releases from the nation’s strategic reserves, while gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday. Crude inventories USOILC=ECI rose by 9.4 million barrels in the week to April 8 to 421.8 million barrels, far surpassing analysts’ expectations in a Reuters poll for an
Reuters LONDON – Oil prices rose to their highest since early March on Wednesday on a drop in U.S. crude inventories and the weak dollar, but mounting coronavirus infections weighed on the demand outlook. Brent crude was up $1.50, or 3.4%, at $45.93 a barrel by 1345 GMT, while West Texas Intermediate oil rose $1.51, or 3.6%, to $43.21 a
Reuters LONDON – Brent oil rose to above $42 a barrel on Friday, adding to gains in the previous session, after OPEC producers and allies promised to meet supply cuts and on signs of demand, hit by the coronavirus crisis, recovering. Iraq and Kazakhstan, during a meeting of an OPEC+ panel on Thursday, pledged to comply better with oil cuts,
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