Oil

According to the latest news, crude oil futures increased to Rs 3,989 per barrel as participants boosted their long position. Significantly, crude oil prices rose on risk-on sentiment on the equity markets and expectations that Saudi Arabia-led OPEC+ would curb production in Q1. Furthermore, the snowstorm in U.S. Northeast supported crude oil. Snowstorm boosted winter …

WTI and Brent Crude Oil Rose 1.83% and 1.79%, Respectively Read More »

Oil prices declined as concerns about Chinese cities in lockdown due to COVID-19 outbreaks. It tempered a rally propelled by robust import data from the world’s largest crude importer U.S. plans for a massive stimulus package. At 1316 GMT, Brent declined by 1.5% which equals 83 cents and settled at $55.89. However, in the previous …

Brent Crude oil fell by 1.5%, while WTI dipped 1.1% Read More »

In New York, Oil prices steadied near $47 a barrel. It subsequently came under pressure from signs of boosted U.S. supply and the epidemic’s resurgence. West Texas Intermediate (WTI) futures recouped earlier losses but remained approximately 4% down this week. According to the American Petroleum Institute, U.S. crude inventories increased by 2.7 million barrels last …

U.S. crude oil inventories increased by 2.7 million barrels Read More »