Oil falls but heads for strong weekly gain on demand growth

By Administrator_India Capital Sands Oil prices fell on Friday but were on track to post solid gains for the week with demand growing faster than supply, while vaccinations dampen the impact of a resurgence in coronavirus cases worldwide. Brent crude futures fell 40 cents, or 0.5%, to $75.65 a barrel by 0151 GMT, following a 1.75% jump on Thursday. U.S. West Texas Intermediate (WTI) crude futures fell 38 cents, or 0.5%, to $73.24 a barrel,…

"Oil falls but heads for strong weekly gain on demand growth"

Oil prices slip but remain near $75 after large inventory drawdown

By Administrator_India Capital Sands Oil prices slipped but remained near $75 per barrel on Thursday as crude stockpiles in the United States, the world’s top oil consumer, fell last week to their lowest since January 2020 and imports and production dropped. Brent crude oil futures fell 5 cents, or 0.1%, to $74.69 a barrel by 0108 GMT while U.S. West Texas Intermediate (WTI) crude oil futures slipped by 4 cents, or 0.1%, to $72.35 a…

"Oil prices slip but remain near $75 after large inventory drawdown"

OPEC+ agrees to boost oil output after Saudi Arabia, UAE end standoff

By Administrator_India Capital Sands OPEC+ ministers agreed on Sunday to boost oil supply from August to cool prices which have climbed to 2-1/2 year highs as the global economy recovers from the coronavirus pandemic. The group, which includes OPEC countries and allies like Russia, crucially agreed new production allocations from May 2022 after Saudi Arabia and others agreed to a request from the United Arab Emirates (UAE) that had threatened the plan. “We are happy with the…

"OPEC+ agrees to boost oil output after Saudi Arabia, UAE end standoff"

Oil rises further on hopes of tighter supply as OPEC+ talks abandoned

By Administrator_India Capital Sands Oil prices rose slightly on Tuesday after the previous day’s rally, supported by expectations of a tighter market as output talks of OPEC+ nations were called off, but concerns that members may start to increase production capped gains. Brent crude was up 7 cents, or 0.1%, at $77.23 a barrel by 0052 GMT, after gaining 1.3% on Monday. U.S. West Texas Intermediate (WTI) crude futures were at $76.38 a barrel, up…

"Oil rises further on hopes of tighter supply as OPEC+ talks abandoned"