Oil Prices Finish Higher Amid Lower USA Inventories
Oil rose to the highest since early March with a second straight weekly decline in U.S. crude supplies underscoring the progress the world has made in draining a record supply Continue Reading
Oil Rally Takes Breather On Small Crude Draw
The rally in oil prices took a breather today after the Energy Information Administration reported a crude oil inventory draw of 400,000 barrels for the week to May 7. This Continue Reading
Crude oil futures edge higher on US stock draw, upbeat global demand forecasts
Crude oil futures inched higher in mid-morning trade in Asia May 12 after the American Petroleum Institute reported a large draw in US crude inventories, with positive demand outlooks from Continue Reading
Oil Prices Bolstered By Crude Inventory Draw
The American Petroleum Institute (API) on Tuesday reported a draw in crude oil inventories of 2.533 million barrels for the week ending May 7. Analysts had predicted a draw of Continue Reading
Light Crude Ends Session Above $65
Oil rose as a weaker dollar lent support and offset a burgeoning pile up of crude in the USA Gulf Coast. (Bloomberg) — Oil rose as a weaker dollar lent Continue Reading
Panic Buying Sends U.S. Gasoline Prices To Near 7-Year High
The average price of a gallon of gasoline in the United States has jumped on the Colonial Pipeline ransomware attack and subsequent outage. The overall average price of retail gasoline Continue Reading
Crude oil, refined product prices fall as short supply fears abate; mutant coronavirus strain
Crude oil and refined product prices slumped during mid-morning trade in Asia May 11, as fears of a shortage in supply of refined products in the US East Coast eased Continue Reading
Oil Declines With Inflation Fears Eroding Market Confidence
Oil fell with global equities after a recent rally that has taken some commodities to record high levels brought on concerns over inflation. U.S. crude futures were down 1.2%. Gasoline and heating-oil markets were Continue Reading
Oil Prices Edge Upward and Gasoline Rally Sputters
Colonial Pipeline now sees service mostly restored by the end of this week. (Bloomberg) — Gasoline’s rally dissipated after the operator of the largest U.S. oil-products pipeline system said it’s Continue Reading
Colonial Pipeline Shutdown Threatens to Magnify Gasoline-Price Surge
The cyberattack that forced the closure of the top U.S. fuel pipeline threatens to disrupt gasoline supplies for millions, as the conduit’s owner estimated Monday that restoring service would take at Continue Reading