Reuters LONDON – Oil prices rose on Tuesday as broad hopes for a demand recovery persisted despite new outbreaks of the highly contagious Delta variant of the coronavirus prompting fresh mobility curbs worldwide. Brent crude futures were up 50 cents, or 0.7%, at $75.18 a barrel by 1400 GMT, having slumped by 2% on Monday. U.S. West Texas Intermediate (WTI)
Reuters LONDON – Oil futures steadied on Thursday as the market awaited confirmation of industry data that showed a surprise increase in U.S. crude stocks, which offset hopes for a demand recovery as coronavirus lockdowns ease. After tumbling on Wednesday, Brent crude futures were down 0.06%, or 2 cents, at $34.72 a barrel at 1311 GMT after dropping by more
Reuters LONDON – Oil prices retreated further on Thursday after sharp losses in the previous session, as the market shifted its focused towards rising U.S. crude stocks and away from fears of an imminent escalation of conflict between the United States and Iran. Broadly, prices were moving back towards where they stood before the Jan. 3 U.S. drone strike that
Reuters HOUSTON – Oil prices dropped about 1% on Wednesday following a surprise build in U.S. crude inventories, and as investors waited to see if a fresh round of tariffs by Washington on Chinese goods would come into force on Sunday. Brent futures LCOc1 fell 80 cents to $63.54 per barrel by 10:29 a.m. CDT (1629 GMT). West Texas Intermediate
Source: Reuters NEW YORK (Reuters) – U.S. crude oil stockpiles soared last week amid higher imports and a release from national reserves, while gasoline and distillate inventories extended their declines even as refiners ramped up production, the Energy Information Administration said on Wednesday. Crude inventories, excluding the Strategic Petroleum Reserve (SPR), rose 5.7 million barrels in the week to Oct.
From Reuters U.S. crude oil stockpiles fell more than expected last week with supplies at the Cushing, Oklahoma hub dropping for a seventh week, while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday. Crude inventories fell by 2.7 million barrels in the week to Aug. 16, compared with analysts’ expectations for a decrease of 1.9 million
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