Sunday, February 23, 2025
Oil prices rise after sharp losses caused by U.S. stockpile surge- oil and gas 360

Oil prices rise after sharp losses caused by U.S. stockpile surge

Reuters LONDON – Oil prices rose on Thursday after sharp losses in the previous session, with investors hoping that a build-up in U.S. inventories may mean producers have little option but to cut output as the coronavirus pandemic ravages demand. With official data showing U.S. inventories surging the most on record, U.S. West Texas Intermediate (WTI) fell on Wednesday to

Weekly Gas Storage: Inventories increase by 76 Bcf- oil and gas 360

Weekly Gas Storage: Inventories increase by 73 Bcf

Natural Gas Inventories as of April 10, 2020 The EIA has released its natural gas inventory report, showing a net increase of 73 Bcf as of April 10, 2020. Working gas in storage was 2,097 Bcf as of Friday, April 10, 2020, according to EIA estimates. This represents a net increase of 73 Bcf from the previous week. Stocks were

OPEC cuts oil demand view again as market faces 'historic shock'- oil and gas 360

OPEC cuts oil demand view again as market faces ‘historic shock’

Reuters LONDON – OPEC on Thursday again cut its forecast for 2020 global oil demand due to the “historic shock” delivered by the coronavirus outbreak, and said the reduction may not be the last. The Organization of the Petroleum Exporting Countries now expects global demand to contract by 6.9 million barrels per day, or 6.9%, in 2020, it said in