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Oil prices slip as crude stockpiles soar past market expectations
Oil prices slipped on Thursday following the Energy Information Administration’s (EIA) report that showed U.S. crude inventories rising higher than market expectations last week.
EIA reported that oil stockpiles rose by 7.9 million barrels in contrast to analysts’ expectations of an increase of around 1.5 million barrels.
U.S. Crude Oil WTI Futures slipped by 0.1% to $56.30 and International Brent Oil Futures went down to $61.67 by 12:01 AM ET (04:01 GMT).
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Apple, Google, Amazon, and Facebook’s chief executive officers faced Republican and Democratic U.S. lawmakers on Wednesday for the much-anticipated congressional hearing. The CEOs were questioned for alleged abuse of their market power ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
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