Nasdaq SINGAPORE – Oil prices rose on Tuesday on expectations that inventories in the U.S., the world’s biggest crude consumer, are expected to fall and on signs that demand in emerging markets remains healthy. Crude futures likely received a boost from gains in Asian equity markets as regional central banks are expected to keep their interest rates steady. Signs of strong fuel demand in
CNBC Oil climbed Friday, surpassing the high set earlier this week and notching a fresh 13-month peak. West Texas Intermediate crude hit $59.74 a barrel on Friday, its highest level since January 2020, a promising sign as the industry grapples with depressed demand during the coronavirus pandemic. However, after a 23% rally so far this year, one top energy expert warns the commodity
CNBC LONDON – Oil futures prices have started to signal OPEC+ may have to do more to offset a second wave of coronavirus and a renewed economic slowdown. Between mid-September and mid-October, Brent’s six-month calendar spread had been tightening, a signal traders expected production to run below consumption and inventories to fall. Over the last ten days, however, the spread
Reuters LONDON – Oil prices fell on Wednesday after U.S. President Donald Trump dashed hopes for a fourth stimulus package to boost the coronavirus-hit economy, with prices also pressured by a larger than expected rise in U.S. crude inventories. Brent crude LCOc1 futures were down $1.05, or 2.5%, to $41.60 a barrel by 1403 GMT and U.S. West Texas Intermediate (WTI) crude CLc1 declined
Reuters Oil prices jumped on Wednesday after U.S. stockpiles rose less than expected and gasoline stocks fell, with support also coming from hopes that demand will improve as some European countries and U.S. cities moved to ease coronavirus lockdowns. June Brent crude LCOc1 futures were up 11.88%, or $2.43, at $22.89 a barrel by 1340 GMT. The more active July
Houston Chronicle 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 crude oil production at an estimated 12.9 million barrels a day and exporting nearly a quarter of that crude daily.
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