Tag: UNITED STATES

Oil prices gain on sharp US crude inventory drop

Oil prices edged up after a steep drop in US crude inventories, but another record day for COVID-19 cases worldwide kept gains in check

US crude, distillate stockpiles rise unexpectedly

US crude oil and distillate inventories rose unexpectedly and fuel demand slipped last week, the Energy Information Administration said, as a sharp outbreak in coronavirus cases hit US consumption

Oil prices broadly stable as stimulus hopes balance corona fears

Brent crude futures fell 15 cents to $43.22 a barrel. US West Texas Intermediate (WTI) crude dropped 5 cents to $40.70. Both contracts were on track to remain broadly flat over the week

US crude, refined products stocks drop sharply

US crude oil and refined product inventories fell sharply last week due in part to a notable drop in crude imports, the Energy Information Administration said

OPEC says global oil demand set for record rise in 2021

Global oil demand will soar by a record 7 million barrels per day in 2021 as the global economy recovers from the coronavirus pandemic but will remain below 2019 levels, OPEC said in its monthly report

EIA: US crude stockpiles rise unexpectedly last week

US crude oil stockpiles rose last week even as refineries hiked output, while gasoline inventories decreased and distillate inventories rose, the Energy Information Administration said

Shale pioneer Chesapeake Energy files for bankruptcy

Chesapeake filed for Chapter 11, becoming the largest US oil and gas producer to seek bankruptcy protection in recent years as it bowed to heavy debts and the impact of the coronavirus outbreak on energy markets

US crude stocks rise and fuel stocks fall in latest week

US crude oil stocks rose while gasoline and distillate inventories fell in the most recent week, data from industry group the American Petroleum Institute showed

Oil rises after Trump assurance on China trade

Oil prices were little changed, hovering near their highest levels since early March after US President Donald Trump soothed jangled nerves over US-China trade

Aviation crisis means oil demand to stay below pre-virus levels before 2022

Oil demand is recovering from the greatest fall in its history in 2020, IEA said, but less flying due to coronavirus fears means the world will not return to pre-pandemic demand levels before 2022