Oil

oil

WTI and Brent Crude Oil Rose 1.83% and 1.79%, Respectively

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 rebounds to maximums since March, exceeding $40 per barrel

Brent crude Oil and WTI futures boosted by 0.3% and 0.4%, respectively

On January 27, oil prices increased after industry data showed U.S. crude stockpiles declined unexpectedly last week. Furthermore, China, the world’s second-biggest oil user, reported its lowest daily growth in coronavirus infections, which bolstered the demand for pick-up. At 0452 GMT Brent crude futures increased by 0.3% which equals 29 cents and settled at $56.10 …

Brent crude Oil and WTI futures boosted by 0.3% and 0.4%, respectively Read More »

U.S. oil's May contract just market history: oil plunging about 300%

U.S. crude oil inventories increased by 2.7 million barrels

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 »