Globally, oil prices traded higher in March 2024 as compared to the previous month on a tighter supply outlook and heightened geopolitical risk Published: Sat 30 Mar 2024, 7:35 AM The UAE’s Fuel Price Committee is set to announce petrol and diesel prices for the month of April soon. The prices are revised to align
UAE to announce fuel prices for April: Will prices rise for 3rd consecutive month? Read More »
WTI Oil closed off Thursday at $82.82, close to a fresh five-month high. Oil traders remain bullish despite recent US stockpile build-ups. The US Dollar Index trades in the green, and could post a fresh monthly high. Oil prices have been heading higher in recent weeks, with several elements painting a rather sketchy picture of
Oil looks set to reach $90 despite US production at near full capacity Read More »
On March 29, 2024, 5:49 AM Crude oil prices were in the red today after the Energy Information Administration reported an inventory build of 3.2 million barrels for the week to March 22. This compared with a draw of 2 million barrels for the previous week, when the EIA also estimated a sizeable draw in gasoline inventories, which helped
Oil Moves Down on Inventory Rise Read More »
WTI price gained ground as OPEC+ is expected to maintain their production cuts. Ukrainian attacks on Russia’s infrastructure are contributing to the sentiment of tightening global Crude supplies. Fuel suppliers in Baltimore are expected to encounter delays following the collapse of the Francis Scott Key Bridge. West Texas Intermediate (WTI) oil price settled higher at
WTI advances to near $82.80 on likelihood of OPEC+ maintaining production cuts Read More »
Charles Hugh Smith Charles Hugh Smith has been an independent journalist for 22 years. His weblog, www.oftwominds.com, draws two million visits a year with unique analyses of global… More Info By Charles Hugh Smith – Mar 28, 2024, 3:30 PM CDT U.S. benchmark crude gained over $2 on Thursday as U.S. crude inventories tightened and
Oil Prices Gain 2% on Tightening Supply Read More »
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
The U.S. Breaks Its Self-Imposed Oil Price Ceiling of $79 to Refill the SPR Read More »
Crude oil imports averaged 6.7 million bpd, rising by 424,000 bpd from the previous week. Strategic Petroleum Reserve increased from 362.3 million barrels to 363.1 million barrels as U.S. continued to buy oil for strategic reserves. The purchases of oil for SPR have served as a material positive catalyst for oil markets this year. Domestic
Crude Oil Inventories Rise By 3.2 Million Barrels, Exceeding Analyst Expectations Read More »
WTI Oil retreats below $82 on chunky increase in US crude stockpiles. Oil traders remain bullish, but the US stockpile build-up is triggering a repricing. The US Dollar Index trades above 104.00 and sees US Dollar bulls digging in their heels. Oil prices are retreating on Wednesday, with traders gasping for air after seeing the
Oil retreats with US stockpile crushing bullish bets for now Read More »
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Oil prices end higher, buoyed by geopolitical tensions, Russia’s output cuts Read More »
Alex Kimani Alex Kimani is a veteran finance writer, investor, engineer and researcher for Safehaven.com. More Info By Alex Kimani – Mar 25, 2024, 1:30 PM CDT China’s largest oil refining company China Petroleum & Chemical Corp. aka Sinopec, recorded a 13% decline in its 2024 profits due to lower oil and gas prices. Sinopec reported FY 2024 net income
Sinopec’s 2024 Profits Declined 13% After Oil Prices Fell Read More »
