Saturday, February 1, 2025
Oil prices fall as demand woes eclipse U.S. stimulus- oil and gas 360

Oil prices fall as demand woes eclipse U.S. stimulus

Reuters LONDON  – Oil prices fell on Wednesday as faltering fuel demand because of the coronavirus pandemic outweighed a massive pending U.S. economic stimulus package. Brent crude LCOc1 was down 49 cents, or 1.8%, at $26.66 a barrel at 1400 GMT after touching a low of $25.68. U.S. crude CLc1 was down 42 cents, or 1.75%, at $23.59 after a

U.S. crude oil inventories decrease by 2.0 million barrels- oil and gas 360

U.S. crude oil inventories increase by 1.6 million barrels

Weekly Crude Oil Storage as of March 20, 2020 PUBLISHER’S NOTE: To date, since coronavirus hit the headlines, seasonally-adjusted inventories, that is inventories relative to the five year average have failed to build as we’ve seen relative draws for crude, gasoline and distillates of 19.2 million barrels over the last four weeks and 34.4 million barrels over the last eight