Category «Oil»

Oil Down, But Remains Above $70 Mark as Tight Market Hopes Prevail

Oil Down, But Remains Above $70 Mark as Tight Market Hopes Prevail

By Administrator_India Capital Sands Oil was down Friday morning in Asia, but held onto the bulk of a three-day advance, as optimism that rising demand will tighten the global market prevailed. Brent oil futures were down 0.37% to $73.52 by 11:24 PM ET (3:24 AM GMT). WTI futures fell 0.38% to $71.64 and was 0.3% lower in early Asian …

Oil Down, Even as U.S. Fuel Inventory Fall Indicates Demand Surge

Oil Down, But Remains Above $70 Mark as Tight Market Hopes Prevail

By Administrator_India Capital Sands Oil was down Friday morning in Asia even as data released on Thursday said U.S. fuel inventories fell and demand surged as economic recovery drove consumption. Brent oil futures fell 0.32% to $73.88 by 10:10 PM ET (2:10 AM GMT) and crude oil WTI futures edged down 0.18% to $72.81. Crude oil supply data from the U.S. …

Oil price falls but sentiment stays strong on demand recovery hopes

Oil Down, But Remains Above $70 Mark as Tight Market Hopes Prevail

By Administrator_India Capital Sands Crude dropped on Tuesday as investors cashed in on a recent rally, but market sentiment remained solid on hopes for a quick recovery in oil demand in the U.S. and European markets and fading expectations for an early return of Iranian crude. Brent crude futures for August eased 10 cents, or 0.1%, to …

Oil edges up as Iran nuclear talks drag on

Oil Down, But Remains Above $70 Mark as Tight Market Hopes Prevail

By Administrator_India Capital Sands Oil prices nudged up on Monday, underpinned by strong demand during the summer driving season and a pause in talks to revive the Iran nuclear deal that could indicate a delay in resumption of supplies from the OPEC producer. Brent crude futures for August gained 30 cents, or 0.4%, to $73.81 a …

Oil bulls take charge as demand outlook improves, Brent up a fifth day

Oil Down, But Remains Above $70 Mark as Tight Market Hopes Prevail

By Administrator_India Capital Sands Oil prices rose on Wednesday, with Brent gaining for a fifth consecutive session, as falling stockpiles and a recovery in demand encouraged investors. Brent crude was up 69 cents, or 0.9%, at $74.68 a barrel by 0200 GMT, having risen 1.6% on Tuesday. U.S. crude gained 66 cents, or 0.9%, to $72.78 a …

Saudi Arabia plans to increase oil output amid recovery in prices

Oil Down, But Remains Above $70 Mark as Tight Market Hopes Prevail

By Administrator_India Capital Sands Saudi Arabia plans to increase oil output in the coming months, reversing a recent production cut, the Wall Street Journal reported on Wedn­esday, citing advisers to the country. The world’s largest oil exporter surprised oil markets last month when it said it would unilaterally slash 1 million barrels a day of crude production in …

Oil Down, But Still Supported by Vaccine Rollout Optimism

Oil Down, But Remains Above $70 Mark as Tight Market Hopes Prevail

By Administrator_India Capital Sands Oil was down ever so slightly on Friday morning in Asia, with prices holding on after a sharp rally overnight, as the rollout of COVID-19 vaccines increased hopes that fuel demand would recover in 2021. Brent oil futures inched down 0.10% to $50.20 by 3:13 AM GMT, giving up some earlier …

Oil gains after stockpile draw amid hopes for coronavirus vaccine

Oil rises on falling crude stocks, demand hopes on stimulus and vaccine rollouts

By Administrator_India Capital Sands Oil futures rose on Wednesday after an industry report showed that U.S. crude inventories fell by more than expected as prices continued to be supported by news of successful trials of a vaccine for coronavirus. Brent crude was up 31 cents, or 0.7%, at $43.92 a barrel by 0213 GMT, while …

Oil Pipeline Operators Offer New Discounts as Demand Craters

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By Administrator_ India Capital Sands U.S. oil pipeline operators are slashing fees to encourage customers in Texas to keep using their networks to ship barrels to the Gulf Coast as the pandemic wreaks havoc on profits. Kinder Morgan Inc (NYSE:KMI). is offering discounts of about 50% on the Eagle Ford pipeline for some existing customers, according …