Oil Storage

The oil prices in Asian trade rose on Friday. They were poised to end a three-week decline. This was boosted by the rising fuel demand, and expectations that U.S. tariffs for reciprocal global tariffs will not be implemented until April. This would give more time to avoid trade wars. Brent futures rose 23 cents (0.3%), or to $75.25 per barrel, by 0505 GMT. Meanwhile, U.S. West Texas Intermediate crude (WTI), gained 16 cents (0.2%), or to $71.45. Brent and WTI both rose by 0.5% this week. U.S. president Donald Trump ordered officials from the Department of Commerce and Economics to...

The oil prices dropped on Wednesday, as a report from the industry showed that U.S. crude stocks had increased. Worries about tariffs also weighed on the sentiment. This wiped out three days' gains fueled by Middle East tensions. Brent futures dropped 36 cents or 0.47% to $76.64 per barrel at 0130 GMT. U.S. West Texas Intermediate crude fell 37 cents or 0.5% to $72.95 per barrel. Brent prices rose by 3.6%, while WTI prices climbed 3.7%. According to Tuesday's American Petroleum Institute data, sources citing the American Petroleum Institute, crude oil stocks in the U.S. grew by 9.4 millions barrels...

The U.S. Energy Information Administration's (EIA) Short-Term Energy Outlook Report, released on Tuesday, said that the U.S. production of oil is expected to be higher than previous estimates. However, it did not change its forecast for growth in demand. The EIA now expects U.S. oil production will average 13,59 million barrels per daily (bpd) by 2025. This is up from the previous estimate of 13,55 million bpd. The agency maintained its estimate of U.S. petroleum and liquid fuel consumption at 20.5 millions bpd by 2025. Donald Trump, the president of the United States, has pledged to maximize U.S. production while...

Goldman Sachs raised its Brent Oil price forecast for 2019 and 2026 due to lower commercial inventories at the Organization for Economic Co-operation and Development. This has led to a tighter oil supply. Goldman Sachs said that it has increased its Brent oil forecasts for 2025 and 2026 to $78 and $73 respectively (from $76 previously). It also expects a $80 peak between April and May 2025. Wall Street Bank said that the forecast for OECD's commercial stock in 2025-2026 was lowered. This is mainly due to lower than expected oil supply from non-OPEC nations, excluding the U.S. The current...

Oil rates dipped in Asian trade on Thursday, extending losses amidst unpredictability over how U.S. President Donald Trump's proposed tariffs and energy policies would affect international economic development and energy need. Brent crude futures fell 26 cents, or 0.3%, to $ 78.74 a barrel at 0427 GMT, while U.S. West Texas Intermediate crude (WTI) eased 23 cents, or 0.3%, to $75.21. In the prior session, Brent futures settled at $79.00 in a. fifth straight day of losses and WTI futures settled at $75.44. in a fourth consecutive day of declines. Oil markets have returned some current gains due to mixed....

Oil costs gained for a. 2nd session on Thursday, supported by worries over supply. in the middle of U.S. sanctions on Russia, a largerthanforecast fall in. U.S. crude oil stocks, and an improving worldwide need outlook. Brent unrefined futures rose 25 cents, or 0.3%, to. $ 82.28 per barrel by 0446 GMT, after increasing 2.6% in the previous. session to their highest considering that July 26 last year. U.S. West Texas Intermediate unrefined futures increased 28. cents, or 0.4%, to $80.32 a barrel, after getting 3.3% on. Wednesday to their greatest because July 19. U.S. crude oil stocks fell last...

U.S. petroleum stocks omitting the Strategic Petroleum Reserve (SPR) fell last week to their lowest because April 2022 as exports rose and imports fell, the Energy Details Administration (EIA) stated on Wednesday. Crude inventories fell by 2 million barrels to 412.7 million barrels in the week ending Jan. 10, the EIA stated, compared to experts' expectations in a Reuters survey for a 992,000-barrel draw. Net U.S. crude imports fell by 1.3 million barrels daily (bpd), EIA said, to 2.05 million bpd. And weekly crude exports were up 1 million bpd to 4.08 million bpd. The petroleum draw was mostly on...

Oil prices rose on Wednesday as the market concentrated on possible supply disturbances from U.S. sanctions on Russian energy business and tankers bring Russian oil. Brent unrefined futures were up 80 cents, or 1%, at $ 80.72 a barrel by 11:00 a.m. EST (1600 GMT). U.S. West Texas Intermediate crude was $1.14, or 1.47%, greater at $78.64. The most recent round of U.S. sanctions on Russian oil might interfere with Russian oil supply and circulation significantly, the International Energy Agency stated in its monthly oil market report on Wednesday, adding that the full influence on the oil market and on...

Oil costs rose on Wednesday as products from Russia and OPEC members tightened, while data revealing an unanticipated increase in U.S. tasks openings pointed to expanding financial activity and consequent growth in oil demand. Brent crude was up 32 cents, or 0.42%, to $77.37 a. barrel at 0135 GMT. U.S. West Texas Intermediate crude. rose 42 cents, or 0.57%, to $74.67. Oil output from the Company of the Petroleum Exporting. Countries fell in December after 2 months of increase, a. Reuters survey showed. Field maintenance in the United Arab. Emirates offset a Nigerian output hike and gains in other places...

Oil rates rose on Tuesday after data showed China's production activity broadened in December, but they are on track to end lower for a second successive year due to demand concerns in top consuming nations. Brent crude futures increased 60 cents, or 0.8%, to $ 74.59 a barrel as of 0530 GMT. U.S. West Texas Intermediate crude acquired 62 cents, or 0.9%, to $71.61 a barrel. For the year, Brent declined 3.2%, while WTI was down 0.1%. China's production activity broadened for a third straight month in December however at a slower pace, an official factory survey revealed on Tuesday,...

Oil rates were little bit changed in Asian trade on Thursday as projections of weak need and a. higherthanexpected rise in U.S. gas and extract. inventories stemmed gains from an additional round of EU. sanctions threatening Russian oil flows. Brent crude futures were up 14 cents at $73.66 a. barrel at 0519 GMT. U.S. West Texas Intermediate crude futures. increased 6 cents to $70.35. Both criteria rose over $1 each. on Wednesday. OPEC cut its need development forecasts for 2025 for the fifth. straight month on Wednesday and by the biggest quantity yet. Investors will be carefully keeping track of...

Oil costs were little altered in early Asian trade on Thursday as forecasts of weak demand and a. higherthanexpected increase in U.S. gasoline and distillate. inventories stemmed gains from an extra round of European. Union sanctions that threatened Russian oil flows. Brent unrefined futures were down 5 cents at $73.47 a. barrel at 0141 GMT. U.S. West Texas Intermediate unrefined futures. fell 11 cents to $70.18. Both standards increased over $1. each on Wednesday. OPEC cut its demand growth forecasts for 2025 for the 5th. straight month on Wednesday and by the biggest amount yet. Investors will be carefully monitoring...

The oil prices dropped on Thursday as a result of expectations that a possible peace agreement between Ukraine and Russia will end the sanctions that have disrupted supplies, while crude stocks in the United States grew. Brent futures fell 68 cents or 0.9% to $74.50 per barrel at 0515 GMT. U.S. West Texas Intermediate crude (WTI), however, dropped 65 cents or 0.9% to $70.72. Brent and WTI both fell by more than 2% after U.S. president Donald Trump claimed that Russian President Vladimir Putin, and Ukrainian President Volodymyr Zelenskiy had expressed a wish for peace to him in separate telephone...

The oil prices continued to rise on Tuesday, amid fears over Russian and Iranian supply of oil and threats of sanctions. This was despite concerns that trade tariffs would dampen the global economy. Brent crude futures rose 55 cents (0.72%) to $76.42 a bar by 0717 GMT. U.S. West Texas Intermediate crude climbed 50 cents (0.69%) to $72.82. After three consecutive weeks of losses, both contracts saw gains in the previous session. "It is more financial driven, and the price means aversion than fundamental." Brent has gone from $80 per barrel in mid-January to $74 last week, so it's time...

Oil costs rose for a 2nd day on Thursday after a largerthanexpected decrease in U.S. crude oil stockpiles added to provide concerns stired by U.S. sanctions against Russian energy trade. Brent crude futures increased 30 cents, or 0.4%, to $ 82.33 per barrel by 0120 GMT, after increasing 2.6% to its greatest considering that July 26 in the previous session. U.S. West Texas Intermediate crude futures increased 32 cents, or 0.4%, to $ 80.36 a barrel after gaining 3.3% on Wednesday, reaching its greatest considering that July 19. Costs increased after the U.S. Energy Details Administration reported on Wednesday domestic...

Oil prices rose on Wednesday cutting losses from the previous day, as the focus reversed to possible supply disruptions from sanctions on Russian tankers, though gains were capped as the marketplace waited for more clarity on their impact. Brent crude futures edged up 11 cents, or 0.1%, to $ 80.03 a barrel by 0515 GMT, after dropping 1.4% in the previous session. U.S. West Texas Intermediate crude climbed 23 cents, or 0.3%, to $77.73 a barrel after a 1.6% decline. Prices slipped on Tuesday after the U.S. Energy Details Administration forecasted oil would come under pressure over the next two...

Oil costs rose in early Asian trade and were on track for a 3rd straight week of gains with icy conditions in parts of the United States and Europe increasing fuel demand for heating. Brent crude futures climbed 24 cents, or 0.3%, to $ 77.16 a barrel at 0138 GMT. U.S. West Texas Intermediate crude futures gained 26 cents, or 0.4%, to $74.18. Over the three weeks ending Jan. 10, Brent has advanced 5.9%. while WTI has leapt 6.9%. Experts at JPMorgan attributed the gains to growing concern. over supply disturbances due to tightening up sanctions, amid low. oil stockpiles,...

Oil rates rose on Friday, closing the week greater on the back of cold weather in Europe and the U.S. in addition to extra economic stimulus flagged by China. Brent unrefined futures settled 58 cents, or 0.8%,. higher at $76.51 a barrel, the highest level considering that Oct 14. U.S. West Texas Intermediate crude settled 83 cents, or 1.13%,. to $73.96, the highest level considering that Oct 11. Brent notched a 2.4% weekly gain, while WTI climbed up. nearly 5%. Indications of Chinese economic fragility increased expectations. of policy measures to enhance development worldwide's top oil. importer. China just is...

Oil costs pushed higher on Thursday, the first day of trade for 2025, as investors returning from holidays meticulously considered a healing in China's. economy and fuel demand following a promise by President Xi. Jinping to promote development. Brent unrefined futures increased 46 cents, or 0.6%, to. $ 75.10 a barrel by 0128 GMT after settling up 65 cents on. Tuesday, the last trading day for 2024. U.S. West Texas. Intermediate crude futures gained 49 cents, or 0.7%, to. $ 72.21 a barrel after closing 73 cents higher in the previous. session. China's Xi stated on Tuesday in his New...

Oil rates edged higher on Thursday in thin vacation trading, driven by hopes for extra fiscal stimulus in China, the world's most significant oil importer, while an anticipated decrease in U.S. unrefined stocks likewise supplied support. Brent unrefined futures increased 22 cents, or 0.3%, to $ 73.80 a barrel by 0450 GMT. U.S. West Texas Intermediate crude was at $70.34 a barrel, up 24 cents, or 0.3%, from Tuesday's pre-Christmas settlement. China prepares to improve fiscal support for usage next year by increasing pensions and medical insurance coverage subsidies for locals and broadening trade-ins for durable goods, according to a...

Oil costs were up on Tuesday in thin trade ahead of the Christmas Day vacation, with rates supported by U.S. financial data and rising oil demand in India, the world's thirdlargest oil importer. Brent unrefined futures were up 33 cents, or 0.45%, to $ 72.95 a barrel and U.S. West Texas Intermediate unrefined futures increased 29 cents, or 0.42%, to $69.53 a barrel at 0114 GMT. New orders for crucial U.S.-manufactured capital goods surged in November in the middle of strong demand for equipment, while brand-new home sales likewise rebounded in an indication that the U.S. economy is on a...

Oil prices increased on Wednesday after U.S. crude inventories fell and as investors eyed a. possible interest rate cut by the U.S. Federal Reserve while. weighing its projections for 2025. Brent futures shot up more than $1 at their session. high, and were up 86 cents, or 1.18%, to $74.02 a barrel at. 11:57 a.m. ET. U.S. West Texas Intermediate crude was up. $ 1.06, or 1.51%, to $71.14. U.S. unrefined stocks and extract stocks fell while. fuel inventories rose in the week ending Dec. 13, the Energy. Info Administration (EIA) said on Wednesday. Meanwhile, the Fed is anticipated to...

Oil rates firmed on Wednesday as market individuals weighed up geopolitical stress and the possibility of OPEC+ extending supply cuts against weaker need. Brent crude futures rose 16 cents, or 0.2%, to $ 73.78 a barrel by 0440 GMT, while U.S. West Texas Intermediate unrefined futures got 14 cents, or 0.2%, to $70.08. On Tuesday, Brent published its biggest gain in two weeks, increasing 2.5%. An unsteady ceasefire between Israel and Hezbollah, South Korea's reduced statement of martial law and a rebel offensive in Syria that threatens to attract forces from a number of oil-producing nations, all lent support to...

Oil rates increased on Friday after Russia said it had fired a ballistic missile at Ukraine and alerted of a widening dispute, raising the possibility of tightening up unrefined materials. Brent unrefined futures gained 14 cents, or 0.2%, to $ 74.37 a barrel by 0007 GMT. U.S. West Texas Intermediate crude futures increased 17 cents, or 0.2%, to $70.27 per barrel. Russian President Vladimir Putin said on Thursday that the Ukraine war was growing into a worldwide dispute after the U.S. and Britain allowed Ukraine to strike Russia with their weapons. Putin, who said Russia responded to using U.S. and...