Page 4 - Us Crude Oil

US energy chief says oil reserve is a tool to meet short-term supply crunch

The US emergency oil reserve is a tool available to Washington to address unusual short-term mismatches between oil supply and demand, Energy Secretary Jennifer Granholm said

US launches auction for 32 mn barrels of crude oil from 4 SPR sites

The US launched an auction for 32 million barrels of crude from four strategic petroleum reserves (SPR) sites to be delivered between late-December and April 2022

China so far non-committal to Washington's oil release, OPEC+ unmoved

On Wednesday, China said it was working on its own reserves release

Oil prices drop more than 1% as US crude stockpiles rise sharply

Brent oil futures ended down $1.82, or 2.1%, to $84.58 a barrel, after closing at a seven-year high on Tuesday

Oil prices pull back as US factory data intensifies demand concerns

Brent crude oil futures settled down 53 cents or 0.6% at $84.33 a barrel after hitting $86.04, their highest since October 2018

Surging oil prices lift material, energy stocks on Wall Street

US crude jumped 2.28% to $81.16 per barrel, a level not seen since late 2014, and Brent rallied 1.9% to $83.98

Crude jumps on global energy crunch; US oil at 7-year high

Prices have risen as more vaccinated populations are brought out of coronavirus lockdowns, supporting a revival of economic activity

Oil prices fall as storm-hit US supply trickles back into market

Oil prices fell on Friday as energy companies in the US Gulf of Mexico restarted production after back-to-back hurricanes in the region shut output

Oil prices rise to six-week high as US supply concerns dominate

Oil prices rose to a six-week high on Monday as US output remains slow to return two weeks after Hurricane Ida slammed into the Gulf Coast

Oil prices fall on US crude stock build, Covid-19 Delta variant spread

Traders noted the oil price drop came despite reports of increased Mideast geopolitical tensions

Oil settles near $75; sharp US inventory drop counters coronavirus worry

Oil settled near $75 a barrel on Wednesday after data showed US crude inventories fell more sharply than analysts had forecast

Oil prices climb as US crude supplies tumble in peak demand season

Futures rose as much as 1.3 per cent in New York on Wednesday

Oil prices keep overnight gains as demand hopes offset US stock build

Oil prices held on to most of their gains from the previous session on Thursday, as signs of stronger demand helped offset an unexpected rise in US inventories

Oil prices retreat on unexpected build-up in US crude inventories

Oil prices fell on Wednesday after an industry report showed an unexpected build-up in US oil inventories last week

Oil prices rise on expectations of decline in US crude inventories

Oil rose on Tuesday, recovering from previous day's drop, as expectations of further declines in US crude inventories outweighed fears that spreading Covid-19 variants could derail global recovery

Oil prices rise for second consecutive day as US inventories decline

Signs of strong Asian demand from both China and India also strengthened the market

Oil prices climb on US inventories draw; OPEC+ impasse caps gains

Brent crude oil futures were up 27 cents, or 0.4%, at $74.39 a barrel by 0644 GMT

With oil market in limbo, here's how analysts see things playing out

If there's no increase in production, then oil at $85 to $90 a barrel is on the cards, Fereidun Fesharaki, chairman of industry consultant FGE, said in a Bloomberg TV interview

Oil rises 1% after cyber attack forces closure of US fuel jugular pipeline

Crude prices climbed more than 1% on Monday after a major cyber attack that forced the shutdown of critical fuel supply pipelines in the United States, highlighting the fragility of oil infrastructure

Oil nears $70 as data shows bigger-than-expected drop in US crude stocks

Brent crude futures were up 49 cents, or 0.7 per cent, at $69.37 barrel after touching a more than seven-week high of $69.78 earlier in the session