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Oil strengthens as fall estimated in US crude inventories  Oil prices climbed on Wednesday on estimates about shrinking U.S. crude and gasoline inventories as the market watched for a possible widening of the Middle Eastern war, which could curtail global oil supplies. Brent crude futures rose 30 cents to $80.99 a barrel by 0009 GMT. U.S. West Texas Intermediate crude increased by 38 cents to $78.73 per barrel. U.S. crude oil and gasoline inventories were expected to have fallen last week, while distillate stocks rose, according to market...
Oil strengthens as fall estimated in US crude inventories
Oil strengthens as fall estimated in US crude inventories
Source: Reuters
2024-08-14 09:01:46 am
Oil prices lifted by summer demand hopes Oil prices rose on Monday, helped by expected peak summer consumption and OPEC+ production cuts, though gains were capped by rising output from other producers and the potential for economic volatility resulting from a changing political landscape. Brent crude futures rose 54 cents, or 0.64%, to $85.55 a barrel by 1105 GMT. U.S. West Texas Intermediate crude futures were up 49 cents, or 0.6%, at $82.03. Both contracts gained about 6% in June, with Brent settling above $85 a barrel in th...
Oil prices lifted by summer demand hopes
Oil prices lifted by summer demand hopes
Source: Reuters
2024-07-01 09:28:40 am
Oil falls as Fed policymakers look to maintain rate cuts, gasoline stocks rise Oil prices fell early on Friday as investors responded to comments from U.S. Fed officials who said it was too soon to start considering rate cuts, and following a surprise build in U.S. gasoline stocks that weighed on the market. Brent futures lost 12 cents, or 0.15%, to trade at $81.74 a barrel by 0008 GMT, while U.S. West Texas Intermediate (WTI) crude was down 17 cents, or 0.22%, at $77.74. Dallas Federal Reserve President Lorie Logan said she is still worried about upside risks to ...
Oil falls as Fed policymakers look to maintain rate cuts, gasoline stocks rise
Oil falls as Fed policymakers look to maintain rate cuts, gasoline stocks rise
Source: Reuters
2024-05-31 09:11:29 am
Oil flat as firming US gasoline demand offsets rate jitters Oil prices were steady early in the session on Friday as players took stock of the U.S. Federal Reserve's latest comments on interest rates amid sticky inflation, while firming seasonal U.S. fuel demand lent support. Brent crude futures were up 1 cent at $81.37 a barrel at 0002 GMT. U.S. West Texas Intermediate crude (WTI) futures were down 2 cents at $76.85. Both benchmarks settled at multi-month lows on Thursday, with Brent crude futures closing at their weakest point since Januar...
Oil flat as firming US gasoline demand offsets rate jitters
Oil flat as firming US gasoline demand offsets rate jitters
Source: Reuters
2024-05-24 08:58:38 am
Oil prices edge lower on rising US stockpiles Oil prices fell in early Asian trading hours on Wednesday after market sources said that data from the American Petroleum Institute showed an increase in U.S. crude and fuel stockpiles, an indicator of weak demand. Brent crude oil futures fell 21 cents, or 0.3%, to $82.95 a barrel by 0020 GMT. U.S. West Texas Intermediate crude futures fell 13 cents, or 0.2%, to $78.25 a barrel. U.S. crude stocks rose by 509,000 barrels in the week ended May 3, market sources said citing American Petrol...
Oil prices edge lower on rising US stockpiles
Oil prices edge lower on rising US stockpiles
Source: Reuters
2024-05-08 10:02:32 am
Oil prices pick up on prospect of US replenishing strategic reserve Oil prices rose on Thursday on the prospect the U.S. may start buying crude for its petroleum reserve, after prices sank to a seven-week low on hopes for an Israel-Gaza ceasefire, doubts about U.S. interest rate cuts and swelling oil inventories. Snapping three days of losses, Brent crude futures for July gained 21 cents, or 0.3%, to $83.65 a barrel by 0026 GMT. U.S. West Texas Intermediate (WTI) crude for June climbed 22 cents, or 0.3%, to $79.22 a barrel. Both benchmarks fell more tha...
Oil prices pick up on prospect of US replenishing strategic reserve
Oil prices pick up on prospect of US replenishing strategic reserve
Source: Reuters
2024-05-02 08:53:20 am