Tag: inventories
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Oil prices rise 3% after a decrease in US inventories – (update)
Oil prices rose by about 3% at the end of trading today, Wednesday, June 28 (2023), with a noticeable decline in US inventories, supported by hopes for a recovery in demand. This came after US data showed a larger-than-expected drop in inventories, indicating strong demand from the world’s largest oil consumer. Oil prices are facing…
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The global price of a barrel of oil falls 1.5%, with the rise in US inventories – (update)
The global price of a barrel of oil decreased by more than 1.5% at the end of trading today, Wednesday, June 14 (2023), after the rise in US inventories, and the Federal Reserve’s decision to keep interest rates unchanged, for the first time since March 2022. The International Energy Agency raised expectations for oil demand…
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Crude oil prices decline 1.5% after US inventories data – (Update)
Crude oil prices fell by more than 1.5% at the end of trading today, Wednesday, May 10 (2023), after 3 sessions of gains, with the release of US inventories data. As an unexpected rise in US oil inventories raised concerns about demand for crude, while investors evaluated US inflation data that showed a slowdown in…
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Declining oil inventories and reducing OPEC + production push oil prices towards $100 (report)
A recent report highlighted the decline in oil inventories after a strong build at the start of 2023, which was likely driven by lower demand in January, given the mild weather and production recovering from December’s weather disruptions. The report – issued by the Swiss investment bank “UBS” – stated that February data indicated a…
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Crude oil prices fall in a volatile session after US inventories data – (Update)
Crude oil prices fell in a volatile session at the end of today, Wednesday, February 15 (2023), after the release of the US inventories report. And raised a much larger-than-expected rise in US oil inventories, and expectations of higher interest rates, concerns about the possibility of weak demand for fuel and economic recession. Crude oil…
