Tag: UNITED STATES

Oil prices gain 1%, boosted by US economic data

Oil prices rose 1%, bolstered by strong U.S. economic data that offset investors’ concerns about the potential for a rise in Iranian supplies

Goldman sees oil hitting $80 despite likely return of Iran supply

Goldman Sachs said it expects oil prices to climb to $80 per barrel in the fourth quarter of this year, arguing that the market has underestimated a rebound in demand even with a possible resumption in Iranian supply

Oil prices rise but India coronavirus cases weigh

Brent crude oil futures were up 66 cents, or 1%, at $67.71 a barrel by 0957 GMT and West Texas Intermediate (WTI) crude was up 63 cents, or 1%, at $64.45

US EIA cuts 2021 world oil demand growth forecast

The U.S. Energy Information Administration cut its 2021 world oil demand growth forecast by 80,000 barrels per day to 5.42 million bpd

Oil gains after cyberattack forces shutdown of US fuel pipelines

Oil rose after a cyberattack forced the shutdown of major fuel pipelines in the United States and raised concerns about supply disruption, outweighing rising coronavirus cases in Asia

EIA: US crude stockpiles slump after a surge in exports

U.S. crude oil stockpiles last week fell more sharply than expected as refining output rose and exports surged, the Energy Information Administration said

OPEC’s share of Indian oil imports plunges to 2 decade low

Total crude imports by the world’s third-biggest oil importer fell to 3.97 million barrels per day (bpd) in the 2021 fiscal year to March 31, down 11.8% from a year earlier, the data showed

India demand worries knock oil prices from six-week highs

Oil prices slipped, taking a breather after touching their highest in six weeks as concerns of wider lockdowns in India and Brazil to curb the COVID-19 pandemic offset a bullish outlook on summer fuel demand and the economic recovery

OPEC says NOPEC bill could put US overseas assets

U.S. assets and personnel overseas could be at risk if the country decided to pass a bill against OPEC, known as NOPEC, the head of the Organization of the Petroleum Exporting Countries told member states

API shows crude, distillate stocks up, gasoline down

Crude oil and distillate stocks rose in the most recent week, while gasoline inventories fell, according to two market sources, citing American Petroleum Institute figures