Repost By Tsvetana Paraskova - Mar 18, 2018, 4:00 PM CDT U.S. crude oil exports are surging and going to a growing number of buyers around the world, including to the fastest-growing demand centers in Asia, the traditional stronghold of the Middle Eastern oil exporters. Booming U.S. production, expanding pipeline and export capacity, and the more than … Continue reading Why U.S. Oil Exports Are Surging
Oil Rises to Two-Week High Amid Optimism on Re-Balancing Process
WTI Crude Oil (USD/bbl) Brent Crude (USD/bbl) Rig Count Number This Week 51.42 57.2 928 Last Week 49.29 55.62 936 Supply glut should shrink soon if cuts continue: IEA’s Birol S. crude inventories fell by 2.75 million barrels last week Oil climbed to the highest level in two weeks as dwindling U.S. crude stockpiles … Continue reading Oil Rises to Two-Week High Amid Optimism on Re-Balancing Process
Oil down 2 percent, breaks five-week rally as oversupply fears resurface
WTI Crude Oil (USD/bbl) Brent Crude (USD/bbl) Rig Count Number This Week 49.29 55.62 936 Last Week 51.67 56.79 940 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 6.0 million barrels from the previous week. At 465.0 million barrels, U.S. crude oil inventories are near the upper … Continue reading Oil down 2 percent, breaks five-week rally as oversupply fears resurface
Traders Are Betting On $100 Oil In 2018
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 1.8 million barrels from the previous week. At 471.0 million barrels, U.S. crude oil inventories are in the upper half of the average range for this time of year. While oil industry executives are preparing to live and profit in … Continue reading Traders Are Betting On $100 Oil In 2018
Refinery demand, not OPEC, is the key to keeping oil prices above $50 a barrel, analyst say
U.S. West Texas Intermediate (WTI) crude futures ended Friday's session 11 cents higher at $50.66 per barrel, the highest settle since May 24. The contract was up about 1.5 percent on the week, marking the third straight weekly gain. International benchmark Brent crude futures rose 38 cents to $56.81 a barrel at by 2:18 p.m. … Continue reading Refinery demand, not OPEC, is the key to keeping oil prices above $50 a barrel, analyst say
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