DENVER, Aug 7 (Reuters) – U.S. crude oil stockpiles fell more than expected last week, while gasoline and distillate inventories rose as refining activity picked up and demand dropped, the Energy Information Administration (EIA) said […]
NEW YORK, Aug 7 (Reuters) – Oil prices gained more than 2% on Wednesday, bouncing back from multi-month lows, after data showed a bigger-than-expected draw in U.S. crude stockpiles, even as worries about weak oil […]
The U.S. crude oil benchmark rallied nearly 2.5% on Wednesday, with Brent crude not far behind, as Wall Street held its breath over an anticipated response by Iran to Israel’s assassination of the Hamas leader […]
Oil prices climbed after the EIA reported a surprise crude oil inventory draw, reversing an earlier decline caused by concerns about a recession. Gasoline and distillate inventories saw builds, following earlier estimates of larger increases. […]
Malta has emerged as the top European destination for ship-to-ship (STS) transfers of Russian oil in the wake of the Greek navy’s decision to deter such activities in the Laconian Gulf. Since May 1, citing […]
Daily Standup Top Stories Saudi Aramco Sees Oil Demand Rising by 1.6 Million Bpd in Second Half of 2024 August 6, 2024 Mariel Alumit Saudi Aramco’s CEO has forecast a strong increase in global oil demand […]
Saudi Aramco’s CEO has forecast a strong increase in global oil demand for the second half of the year, ranging from 1.6 to 2 million bpd. Aramco’s outlook contrasts with the more cautious forecasts from […]
Venezuelan President Nicolás Maduro has been declared the winner of a controversial presidential election, sparking widespread protests and international condemnation. Despite the re-election of Maduro, the United States has maintained sanctions on Venezuela’s state-owned oil […]
Daily Standup Top Stories How Conflict in the Middle East Could Send Oil Prices Soaring August 5, 2024 Mariel Alumit Rising tensions between Israel and Iran are threatening to disrupt oil supply chains and could send […]
Despite claims of replenishment, the Strategic Petroleum Reserve (SPR) remains significantly below pre-Biden levels. The DOE’s statements create a misleading impression by including barrels not yet delivered and canceled sales in their replenishment figures. The […]
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