Price Moves West Texas Intermediate (WTI) crude for March delivery rose 90 cents to $75.99 a barrel. March Brent crude, the global benchmark, was up 80 cents at $80.43 a barrel on ICE Futures Europe. Market Drivers Oil futures saw an upswing in response to significant drops in U.S. crude inventories and production. The Energy Information Administration reported a … [Read more...] about Oil Futures Rise as U.S. Crude Inventories and Production Drop
Oil futures
U.S. Crude Inventories Decline, Gasoline and Diesel Stocks Continue to Increase
According to the most recent data released by the Energy Information Administration (EIA), U.S. crude oil inventories saw a larger-than-expected decline last week. However, stocks of gasoline and diesel continued to rise. Crude Oil Stocks Commercial crude oil stocks, excluding the Strategic Petroleum Reserve (SPR), fell by 2.5 million barrels to 429.9 million barrels in the … [Read more...] about U.S. Crude Inventories Decline, Gasoline and Diesel Stocks Continue to Increase
Oil Futures Rally as Hamas Attacks Israel
Oil futures rallied on Monday by more than 4%, propelling U.S. prices to their highest finish in nearly a week. The recent attack by Palestinian militant group Hamas on Israel has raised concerns about potential disruptions to oil supplies in the Middle East region. Experts predict that this violence will continue to exert upward pressure on oil prices, at least in the short … [Read more...] about Oil Futures Rally as Hamas Attacks Israel
Oil Futures Decline Amid Israel-Gaza Conflict Concerns
Price Action West Texas Intermediate crude for November delivery fell 65 cents, or 0.7%, to $85.32 a barrel on the New York Mercantile Exchange. December Brent crude, the global benchmark, was off 51 cents, or 0.6%, at $87.15 a barrel on ICE Futures Europe. Market Drivers Oil futures experienced a second consecutive day of decline following a more than 4% spike on Monday in … [Read more...] about Oil Futures Decline Amid Israel-Gaza Conflict Concerns
Oil Futures Edge Higher on Talks of Easing U.S. Sanctions on Venezuela
Oil futures showed signs of recovery on Tuesday following a slight decline in the previous session. The downward trend was triggered by ongoing discussions regarding potential concessions on U.S. sanctions related to crude exports from Venezuela. Price Action West Texas Intermediate crude for November delivery rose by 33 cents, or 0.4%, to $86.99 a barrel on the New York … [Read more...] about Oil Futures Edge Higher on Talks of Easing U.S. Sanctions on Venezuela
