U.S. oil futures edged slightly lower on Thursday after jumping 2.6% in the previous session as crude inventories fell for the third week in a row. U.S. commercial crude inventories fell by 4.9 million barrels last week, though gasoline stocks rose by 3.3 million barrels and motor fuel demand weakened by 615,000 barrels per day. … Read more
An offshore oil rig platform is photographed in Huntington Beach, California, U.S. July 4, 2024. Etienne Laurent | Reuters U.S. crude oil rose 1 % on Friday, topping $83 per barrel as consumer prices eased and inventories fall. The recent oil rally has stalled out with West Texas Intermediate largely flat this week, ahead 0.38%, … Read more
An oil pumpjack is shown in a field in Stanton, Texas, on June 27, 2024. Brandon Bell | Getty Images News | Getty Images Crude oil futures rose Thursday as inflation eased, bolstering hopes that the Federal Reserve will cut interest rates later this year. Inflation as measured by the consumer price index dropped 0.1% … Read more
An oil pump jack is shown in a field on June 27, 2024 in Stanton, Texas. Brandon Bell | Getty Images News | Getty Images Oil prices held firm Wednesday as OPEC sees solid demand supported by stronger economic growth this year. OPEC maintained its oil demand growth forecast of 2.2 million barrels per day … Read more
Oil prices fell for the third straight session on Tuesday, as Gulf Coast production and refining infrastructure appears to have avoided substantial damage from Tropical Storm Beryl. On Monday, Beryl made landfall in Matagorda, Texas, as a Category 1 hurricane but later weakened into a tropical storm. Beryl has moved inland as a tropical depression … Read more
U.S. crude oil futures fell nearly 1% Monday as traders monitored the impact of Hurricane Beryl on Gulf Coast refining, production and export infrastructure. Beryl made landfall near Matagorda, Texas, as a Category 1 hurricane with maximum sustained winds of 80 miles per hour, according to the National Hurricane Center. Matagorda is about 150 miles … Read more
U.S. crude oil was little changed on Friday but was on pace for a fourth straight weekly gain as falling inventories show an uptick in demand. Oil market analysts have been forecasting a tighter market in the third quarter as summer fuel demand picks up. U.S. inventory data appeared to confirm those forecasts, with crude … Read more
Crude oil futures held firm on Wednesday as traders waited for the latest round of U.S. inventory data for signs of whether gasoline demand is picking up. U.S. crude oil gained about 6% last month on expectations of a tighter third quarter with stockpiles forecast to draw down as summer fuel demand picked up. The … Read more
An oil pump jack is shown in a field on June 27, 2024 in Stanton, Texas. Brandon Bell | Getty Images News | Getty Images U.S. crude oil topped $84 per barrel on Tuesday to hit a two-month high as worries grow that a war between Israel and Hezbollah and an active hurricane season in … Read more
Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S., April 21, 2020. Dronebase Dronebase | Reuters U.S. crude oil futures on Monday rose ahead of the Fourth of July holiday, after booking a 6% gain last month on the back of fears of a wider … Read more
