U.S. Crude Oil, Product Inventories Present A Clean Sweep Of Draws – OilPrice.com
U.S. crude oil inventories fell by 3.4 million barrels in the week to Aug. 23, according to the American Petroleum Institute. Analysts had been expecting a fall of 3 million barrels. API reported that crude oil inventories increased by 347,000 barrels last week. So far this year, crude oil inventories are down 2.642 million barrels, […]
Brent Crude Falls Below $80 – OilPrice.com
WTI, the U.S. crude oil benchmark, reversed gains from earlier in the week on Wednesday after an unexpected rise in U.S. crude inventories after a series of drawdowns and a threat from Iran to temporarily shelve its attacks on Israel to leverage. As of 3:03pm ET, Brent Crude was trading just below $80, down 0.90%, […]
WTI Crude Soars on Tailwinds of Saudi July Export Cuts – OilPrice.com
West Texas Intermediate (WTI), the U.S. benchmark, rose more than 2.9 percent, while Brent rose only half that amount on the day after the EIA reported a larger-than-expected fall in U.S. crude oil inventories and the U.S. dollar weakened. U.S. crude oil inventories have fallen by more than 20 million barrels in the past three […]
Oil Prices Perk Up on Crude Draw – OilPrice.com
Crude oil prices rose today following the release of the U.S. Energy Information Administration. report Inventories fell by 3.4 million barrels in the week ending July 5. This compares with a much larger drop of 12.2 million barrels the previous week. The American Petroleum Institute reported on Tuesday that inventories were estimated to have fallen […]
Oil Jumps on Significant Crude Inventory Draw – OilPrice.com
U.S. crude oil inventories fell by 9.163 million barrels in the week to June 28, according to the American Petroleum Institute. Analysts had been expecting a fall of 150,000 barrels. API reported that crude oil inventories increased by 914,000 barrels last week. On Tuesday, the U.S. Department of Energy (DoE) announced that crude oil inventories […]
WTI Crude Soars to Highest Level Since April on Demand Optimism, Hurricane Beryl | OilPrice.com – OilPrice.com
Hurricane Beryl swirled in the Caribbean Sea and strengthened overnight into a powerful Category 5 storm, the earliest on record for the Atlantic hurricane season, raising concerns among energy traders about possible chaos along the Gulf Coast. Beryl made landfall on the Caribbean island of Carriacou, Grenada, on Monday morning with winds of about 150 […]
Crude Oil Price Forecast: Eyes Bullish Targets – FX Empire
Holds above 20-day moving average support The 20-day moving average is at 77.77. If crude oil closes above this line today, the upside objective will likely be reached. A move above today’s high will generate a signal for the continuation of the bullish trend. A test of the 200-day moving average at 79.96 appears to […]
Oil Falls on Small Crude Inventory Build – OilPrice.com
Oil prices fell today after the U.S. Energy Information Administration report Inventories are expected to rise by 1.8 million barrels in the week ending May 17. This compares with a decline of 2.5 million barrels the previous week, which boosted the benchmark after API estimates suggested a similar decline last week, the second straight week […]
Biden’s privilege claim to keep special counsel interview under wraps a ‘crude politics’ move: experts
President Biden’s assertion of executive privilege to avoid releasing audio recordings of his meeting with special counsel Robert Hur has raised eyebrows among some legal experts. White House revealed on Thursday Biden asserted executive privilege over the audio recordings at the request of Attorney General Merrick Garland. White House press secretary Karine Jean-Pierre said in […]
Are Policymakers Oblivious to the Importance of Crude Oil, or Are They Intentionally Sending Us Back to the 18th Century?
The elephant in the room that no one wants to discuss is that crude oil is the foundation of our materialistic society as it is the basis of all products and fuels demanded by the 8 billion on this planet. World leaders are not cognizant enough to know that wind turbines and solar panels only generate occasional electricity […]