Oil Storage

On Wednesday, oil prices were mixed. Brent was down slightly while the U.S. contract edged higher. Supply concerns increased after a winter storm disrupted production and stopped Gulf Coast exports at the weekend. Brent crude futures dropped 6 cents or 0.1% to $67.51 a 'barrel' by 0122 GMT. U.S. West Texas Intermediate Crude rose 4 cents or 0.1% to $62.43 a 'barrel. Both benchmarks rose by about 3% Tuesday. Analysts and traders estimate that U.S. oil producers lost as much as 2 million barrels of crude oil per day, or 15%, over the weekend due to the storm straining the?energy...

The oil price dropped by about 2% on Thursday, reaching a new low. This was after U.S. president Donald?Trump backed down on his threats against Greenland and Iran and on positive developments that could help end Russia's war in Ukraine. Brent futures dropped $1.18 or 1.8% to settle at $64.06 per barrel. U.S. West Texas Intermediate crude (WTI), however, fell $1.26 or 2.1% to settle at $59.36, which is a new one-week low. Trump claimed that he had secured permanent U.S. access in Greenland through a deal with NATO. The head of the alliance said allies must increase their commitment...

The oil prices were unchanged on Friday, with Brent and U.S. West Texas Intermediate only moving a few cents compared to their closing prices. Brent fell 3 cents or 0.05% to $63.73 a barrel while U.S. West Texas Intermediate rose 4 cents or 0.07% to $59.22 a barrel at 0223 GMT. Brent and WTI both reached multi-month highs after protests in Iran and the U.S. flared up this week. President Donald Trump also signaled the possibility of strikes against the nation. On?Thursday night, Trump stated that the crackdown by Tehran on protesters had slowed, easing fears of a possible military...

The oil prices rose on the first trading day in 2026, after they had suffered their worst annual decline since 2020 last year. This was due to Ukrainian 'drones' targeting Russian oil installations and a U.S. blockade that impacted Venezuelan exports. Brent crude futures rose 14 cents to $60.99 per barrel on Friday by 1:46 GMT. U.S. West Texas intermediate crude crude was up 14 cents at $57.56 per barrel. Russia and Ukraine traded accusations of attacks on civilians New Year's Day, despite intensive talks overseen?by U.S. president?Donald Trump aimed at ending the nearly four-year old?war. In recent months, Kyiv...

The Energy Information Administration reported that the U.S. imported its lowest amount of crude oil in five years last week, as companies sought to avoid a heavy tax at the end of the year on oil stored in storage. According to EIA, U.S. crude imports fell last week to 4,95 million barrels a day. This is the lowest level since February 2021. John Kilduff, partner at Again Capital, explained that the?ad value tax was a burden on crude oil imports. Kilduff stated that "companies" will delay taking inventory of crude oil and refined products when they reach this point, especially...

Tuesday's oil prices were unchanged after a rise of over 2% the previous day. Investors sought clarification on Ukraine peace negotiations to gauge potential supply disruptions. Brent crude futures, for delivery in February, expiring on Tuesday, fell 2 cents to $61.92 per barrel at 0314 GMT. The March contract, which is more active, was down 5 cents at $61.44. West Texas Intermediate crude oil in the United States fell 5 cents to $58.03. Brent and WTI benchmarks closed more than 2% higher the previous session, after Moscow accused Kyiv that it was targeting President Vladimir Putin's residence. This stoked fears...

Investors waited for a decision by the U.S. Federal Reserve on interest rates and watched progress in Russia-Ukraine talks. Brent crude futures rose 7 cents or 0.1% to $62.01 per barrel at 0500 GMT. U.S. West Texas Intermediate Crude was trading at $58.32 per barrel, an increase of 7 cents or 0.1%. Suvro Sarkar is a DBS Bank energy analyst and said that the American Petroleum Institute reported a decline in U.S. oil inventories. Oil prices could be supported by the U.S. Fed's rate-cut policy, which is another macro-driver. Citing market sources The API numbers are a good way to...

Oil prices dropped on Thursday, as U.S. president Donald Trump's administration pressed Ukraine to accept a peace deal with Russia that would end a three-year war. Brent crude futures fell 32 cents or 0.5% to $63.19 per barrel at 11:54 AM CDT (1754 GMT). U.S. West Texas Intermediate Crude Futures dropped 47 cents or 0.79% to $58.97. The U.S. Energy Information Administration reported Wednesday that the U.S. crude oil supply was lower than expected. This led to a rebound in both benchmarks on Thursday. The U.S. and Russia peace proposal includes the concession of Ukrainian territory to Russia as well...

International Energy Agency (IEA) said that the global oil market will have a surplus of up to 4,09 million barrels a day next year as OPEC+ and its rivals increase production and demand slows. In its November monthly report, the IEA stated that "global oil market balances look increasingly lopsided as global oil supply continues to grow while oil demand remains modest by historic standards." The Agency expects the global oil supply to increase by approximately 3.1 million barrels a day (bpd), and 2.5 million bpd in 2020, both up around 100,000 bpd per month. The IEA's 2026 implied surplus...

Oil prices fell on Thursday, continuing losses from the previous day, after a report indicating rising crude inventories at the U.S. heightened concerns that global supplies are more than enough to meet the current fuel demand. Brent crude futures dropped 9 cents or 0.1% to $62.62 per barrel at 0336 GMT after falling 3.8% the day before. U.S. West Texas Intermediate Crude fell 11 cents or 0.2% to $58.38 per barrel, continuing a 4.2% drop on Wednesday. According to market sources, who cited American Petroleum Institute data, U.S. crude stocks rose by 1.3m barrels during the week ending November 7,...

The oil prices dropped for the second day in a row on Thursday, as a report from the industry showed that crude inventories were rising in the U.S. Brent crude futures dropped 3 cents or 0.03% to $62.69 per barrel at 0234 GMT after falling 3.8% the previous session. U.S. West Texas Intermediate Crude fell 5 cents or 0.09% to $58.44 per barrel, continuing its 4.2% drop on Wednesday. According to market sources, citing American Petroleum Institute data on Wednesday, U.S. crude stocks rose by 1.3m barrels during the week ending November 7. The API data showed that gasoline and...

The oil prices fell on Wednesday as investors assessed the outlook for supply, amid a wider financial market slump and a stronger U.S. Dollar. Brent crude futures fell by 6 cents or 0.1% to $64.38 per barrel at 0408 GMT. They had previously hit a two-week low. U.S. West Texas Intermediate Crude was down 10 cents or 0.17% at $60.46. In a client note published on Wednesday, ANZ analysts noted that investors had left the energy market due to a risk-off mood across all markets. After an overnight sell-off led by tech on Wall Street, the market volatility in Asia...

Prices of oil?recovered?on Friday, after U.S. president Donald Trump renewed his threats against Iran. This sparked fears that military action could disrupt crude supply while outages are occurring in Kazakhstan. Brent crude futures rose by 76 cents or 1.2% to $64.82 per barrel at 1026 GMT. U.S. West Texas Intermediate Crude?was up $75 cents or 1.3% at $60.11. Both benchmarks were set at weekly gains of around 1.1%. Prices rose earlier in the week due to U.S. president Donald?Trump’s actions on Greenland, but fell by about 2% on Thursday after he backtracked on tariff threats and ruled out a military...

The market is apprehensive about the possibility of Iranian supply disruptions after deadly unrest in this major Middle Eastern producer. Brent futures traded 9 cents lower or 0.14% at $65.38 per barrel at 0207 GMT. U.S. West Texas Intermediate Crude was down 12 Cents, or 0.2%, at $61.03 per barrel. Brent futures ended 2.5% higher Tuesday, while WTI rose 2.8%. Prices for both contracts have risen 9.2% in the last four trading sessions due to the?increasing protests against the fourth largest OPEC producer. U.S. president Donald Trump on Monday urged Iranians to continue protesting, and that help would soon be...

After two days of declining prices, oil prices increased on Thursday as the?U.S. Investors were encouraged to purchase futures as they watched Venezuela's developments. Brent crude futures rose 24 cents or 0.40% to $60.20 per barrel at 0343 GMT. U.S. West Texas Intermediate crude crude was up 22 cents or 0.39%. The benchmarks for both oil and gas fell by more than 1% on Wednesday, with the market expecting plenty of supply in 2019. Morgan Stanley analysts, for example, estimate that there will be a surplus as high as 3,000,000 barrels a day during the first half 2026. Mitsuru Muraishi...

Oil prices rose slightly on Thursday after two days of declines. A larger-than expected drawdown in U.S. crude stocks provided an impetus for investors to purchase futures as they monitored developments in Venezuela. Brent crude futures rose 38 cents or 0.6% to $60.34 per barrel at 0104 GMT, while U.S. West Texas Intermediate Crude was up 37 cents or 0.7%, and $56.36 per barrel. Morgan Stanley analysts, for example, estimate that there will be a global surplus of up to 3 million barrels a day in the first half 2026. Mitsuru Muraishi is an analyst with Fujitomi Securities. Pullback buying...

Oil prices rose marginally on the first trading day in 2026, after registering their largest annual loss since 2010. This was due to Ukrainian drones targeting Russian oil facilities and a U.S. trade blockade that impacted Venezuelan exports. Brent crude futures rose 22 cents Friday to $61.07 per barrel at 0833 GMT, while U.S. West Texas intermediate crude rose 22cents to $57.64. On New Year's Day, Russia and Ukraine exchanged accusations of attacks against civilians despite the talks that were overseen by U.S. president Donald Trump. The talks are meant to bring an end to a nearly four-year war. Kyiv...

The oil prices fell a bit early Tuesday morning after they had risen more than 2% the previous day. This was partly due to spillovers from a drop in precious metals, while escalating tensions between Russia and Ukraine left markets dealing with supply disruption concerns. Brent crude futures expiring?on? Tuesday were down 21 cents or 0.3% at $61.73 per barrel by 0150 GMT. The March contract, which is more active, was down 19 cents (0.3%) at $61.30. U.S. West Texas Intermediate Crude fell 20 cents or 0.3% to $57.88. Both contracts closed more than 2% above the previous session, after...

The oil prices were stable on Wednesday after they had risen in the five previous sessions. This was due to the robust economic growth of the United States and the threat of disruptions in supply from Venezuela and Russia. Brent crude futures fell 1 cent, to $62.37 per barrel at 0326 GMT. U.S. West Texas intermediate crude rose 1 cent, to $58.39. The two contracts have increased by about 6% each since the 16th of December, when they plummeted to levels not far from five-year lows. "What 'we've seen in the past week was a combination position squaring on thin...

The oil prices rose modestly on Wednesday. They extended gains from the previous session. This was due to the robust U.S. economy and the threat of "supply disruptions" from Venezuela and Russia. Brent crude futures rose 4 cents or 0.06% to $62.42 per barrel at 0117 GMT. U.S. West Texas Intermediate crude gained 3 cents or 0.05% to $58.41. Brent oil prices rose by over 2% Monday. WTI also climbed the highest since November 14. Prices rose by more than 0.5% again on Tuesday. In its first estimate of the third-quarter GDP, Commerce Department's Bureau of Economic Analysis stated that...

The oil price fell for the second session in a row on Wednesday as traders awaited an outcome from Russia-Ukraine talks that may boost supply. Meanwhile, concerns about a possible surplus increased due to rising inventories. Brent crude was up 2 cents or 0.03% at $62.47 as of 0427 GMT. U.S. West Texas Intermediate gained 3 cents or 0.05% to $58.67. This "weakness" comes despite the continued attacks by Ukraine on Russian energy infrastructure. A note by ING analysts on Wednesday warned that Moscow could start attacking ships from countries that support Ukraine. Analysts noted that Brent had fallen to...

The oil price steadied Thursday as traders weighed the impact of Western sanctions on Russian supply against the talks to end Ukraine's war. Trading was expected to be thin because of the U.S. holiday Thanksgiving. Brent crude futures increased 9 cents, or 0.1%, to $63.22 a barrel as of 1102 GMT. U.S. West Texas intermediate crude futures increased 19 cents, or 0.3%, to $58.84 a barrel. Steve Witkoff, U.S. ambassador to Russia and other senior U.S. officials will travel to Moscow with Russian leaders next week for discussions on a potential plan to end the nearly 4-year-old conflict in Ukraine....

Investors assessed the prospects of an oversupply, and the talks about a peace agreement between Russia and Ukraine. Brent crude futures fell 5 cents, to $62.43 per barrel at 0904 GMT. U.S. West Texas Intermediate Crude Futures rose 1 cent to $57.96. Priyanka Sahdeva, an analyst at Phillip Nova, said: "The market is fundamentally skewed downwards. Investors are increasingly pricing in a 2026 oversupply and there's no compelling demand catalyst to offset that." Brent crude and WTI both settled down 89 cents on Tuesday, after Ukrainian President Volodymyr Zelenskiy informed European leaders that the U.S. was willing to support a...

The price of oil fell on Wednesday, as a report from the industry showed that crude inventories were higher in the U.S. Brent crude futures fell 11 cents or 0.2% to $64.78 per barrel at 0510 GMT after rising 1.1% the previous session. U.S. West Texas Intermediate Crude Futures were down by 9 cents or 0.2% at $60.65 per barrel after gaining 1.4% on Tuesday. Market sources reported late Tuesday that U.S. crude oil and fuel stockpiles rose during the past week. They cited American Petroleum Institute data. API, according to sources, reported that crude stocks increased by 4.45 millions...