Author name: David Ryabchikov

Oil heads for second weekly gain on geopolitical tension, supply concerns

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Oil prices extended gains on Friday and headed for a second weekly gain, supported by geopolitical tensions in Europe and the Middle East, concerns over tightening supply, and optimism about global fuel demand growth as economies improve. Brent crude climbed 40 cents, or 0.4%, to $91.05 a barrel by 0425 GMT. US West Texas Intermediate […]

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The U.S. Breaks Its Self-Imposed Oil Price Ceiling of $79 to Refill the SPR

The U.S. Breaks Its Self-Imposed Oil Price Ceiling of $79 to Refill the SPR

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Irina Slav Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry. More Info By Irina Slav – Mar 28, 2024, 2:32 AM CDT The latest crude oil purchase that the Department of Energy made as part of refill plans for the strategic petroleum reserve cost

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Oil updates — crude rises on strong US fuel demand as supply concerns continue 

Oil updates — crude rises on strong US fuel demand as supply concerns continue 

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Thursday .  March 14, 2024 You are here Home Oil updates — crude rises on strong US fuel demand as supply concerns continue  Brent futures for May climbed 11 cents, or 0.13 percent, to $84.14 a barrel at 09:52 a.m. Saudi time, while April US West Texas Intermediate crude rose 10 cents, or 0.13 percent, to

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Biden’s SPR Gamble Sparks Debate Over U.S. Energy Security

Biden’s SPR Gamble Sparks Debate Over U.S. Energy Security

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Premium Content By Robert Rapier – Mar 12, 2024, 4:00 PM CDT The SPR was aggressively depleted by 291 million barrels during Biden’s first two and a half years, primarily in response to rising gasoline prices and the Ukraine crisis. Critics argue this depletion compromises U.S. energy security, while supporters claim decreased dependency on imports

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Oil Updates – prices up as Middle East tensions persist, demand concerns cap gains

Oil Updates – prices up as Middle East tensions persist, demand concerns cap gains

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RIYADH: Saudi banks extended loans totaling SR2.62 trillion ($700 billion) in January, marking an 11 percent rise from the same month in 2023, according to official data. Figures released by the Kingdom’s central bank showed an increase in personal loans accounted for 33 percent of this growth, while the remaining 67 percent was attributed to

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WTI falls to $77.00 on falling Chinese oil imports-led demand concerns

WTI falls to $77.00 on falling Chinese oil imports-led demand concerns

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WTI price extends its losing streak on demand concern following Chinese oil import data. China’s oil imports fell to 10.8 million bpd in the first two months of the year, compared to 11.44 million bpd in December. Crude oil prices could find support from a weakening US Dollar amid growing expectations of a Fed rate

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