(Investing) – HOUSTON -Oil prices rose on Wednesday, buoyed by government data showing U.S. crude oil and fuel inventories fell last week and by mounting concerns about tighter global supply following the U.S. threat of tariffs on nations buying Venezuelan crude. Brent crude futures gained 88 cents, or 1.21%, to $73.90 a barrel by 10:42 a.m. ET (1442 GMT), their highest since February
Oil Price U.S. crude oil production hit an all-time high in August, according to new data published by the Energy Information Administration on Tuesday, with production surpassing pre-covid levels. U.S. field production of crude oil reached 404.6 million barrels during the month of August, new EIA data shows, for an average of 13.05 million barrels per day–squarely breaking the previous record
Oil Price Heavy trading in Dubai oil has lifted its premium to WTI crude to its highest since late March, a development that could make U.S. crude even more competitive in Asia. More traders have turned to Dubai after Persian Gulf producers such as Saudi Arabia hiked prices and shipping rates also climbed. Bloomberg has reported that Dubai swaps were trading
World Oil (Bloomberg) – U.S. oil is already having a profound impact on the world’s most important oil benchmark, effectively setting the price just after its inclusion in the measure. WTI Midland — produced in the West Texas shales — joined the Dated Brent benchmark on Tuesday, in an effort to revamp a gauge that is used to set
Oil Price Crude oil inventories in the United States saw another significant increase, with a 6.203 million barrel increase last week, the American Petroleum Institute (API) data showed on Tuesday, bringing the total number of barrels gained so far this year to nearly 59 million barrels. This week, SPR inventory held steady for the seventh week in a row at 371.6
Nasdaq U.S. crude oil stockpiles edged lower last week but gasoline inventories posted a larger-than-expected build on weakened demand, the Energy Information Administration said on Wednesday. Crude inventories USOILC=ECI fell by 446,000 barrels in the week to July 15 to 426.6 million barrels, compared with expectations in a Reuters poll for a 1.4 million-barrel rise. Demand figures rebounded from the previous
US News NEW YORK – Oil prices gained about 1% on Tuesday, with U.S. crude settling at a 13-week high on supply concerns, including no nuclear deal with Iran, and prospects for demand growth in China, which is relaxing lockdowns to control the pandemic. Looking ahead, analysts polled by Reuters forecast U.S. crude inventories fell last week. A drop in
Nasdaq U.S. crude oil stockpiles rose unexpectedly last week, while distillate and gasoline inventories dropped again as refiners continue to boost fuel exports to a world in need of supply, the Energy Information Administration said on Wednesday. Crude inventories USOILC=ECI rose by 1.3 million barrels in the week to April 29 to 415.7 million barrels, compared with analysts’ expectations in a Reuters
Nasdaq March 2 – U.S. crude and fuel stocks fell in the latest week, driving key storage hubs to multi-year lows as strong demand had refiners and other users paying dearer prices to secure supplies. Oil prices have soared since Russia invaded Ukraine and was hit with sanctions that disrupted oil trade worldwide in markets already stressed by tight supplies.
World Oil SINGAPORE (Bloomberg) –Oil gained after a U.S. industry report showed another decline in inventories of crude and gasoline, signaling a tightening market. Global benchmark Brent rose above $74, while West Texas Intermediate advanced for a fourth day. The industry-funded American Petroleum Institute reported Tuesday that nationwide crude stockpiles fell 5.44 million barrels last week, according to people familiar
Reuters NEW DELHI – The United States overtook Saudi Arabia as India’s second biggest oil supplier after Iraq last month, as refiners boosted cheaper U.S. crude purchases to record levels to offset OPEC+ supply cuts, data from trade sources showed. The switch in supplies, triggered by lower U.S. crude demand, coincided with Saudi Arabia’s voluntary extra 1 million barrel per
Reuters WASHINGTON – The first shipment of U.S. crude oil is heading to Belarus this week, fulfilling a commitment made in February, U.S. Secretary of State Mike Pompeo said. The shipment involves by U.S. firm United Energy Trading, with the assistance of U.S. firm Getka and Polish partner UNIMOT. “This competitive deal … strengthens Belarusian sovereignty and independence, demonstrates that
Sign up to receive daily news and stock prices from Oil & Gas 360® directly in your email inbox.
Market Data ©2020–2024 QuoteMedia. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). RT=Real-Time, EOD=End of Day, PD=Previous Day. Market Data powered by QuoteMedia. Terms of Use.
