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Tag Archives: Iran

Large Crude Oil Inventory Draw Bolsters Prices

The American Petroleum Institute (API) reported a large crude oil inventory draw of 7.55 million barrels for the week ending June 20, but still coming in over analyst expectations of a much bigger 2.891-million barrel drawdown in inventories. Last week, the API reported a draw of 812,000 barrels. A day later, the EIA …

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OPEC supply cuts raises oil prices

Oil prices rose on Monday after Saudi Arabia said producer club OPEC and Russia were likely to keep withholding supplies, and in relief that the United States and Mexico averted a trade war that would have damaged the global economy. Front-month Brent crude futures, the international benchmark for oil prices, …

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Brent crude oil tops $50

Oil prices rose on Thursday with Brent briefly topping $50 thanks to a weaker dollar and a drop in US crude stockpiles, traders said. Brent North Sea crude reached $50.05 a barrel — breaching $50 for the first time since early last month. Later around 1230 GMT, Brent North Sea …

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Oil hits 2016 high of 43 dollars a barrel

Oil reached a 2016 high, hitting 43 dollars a barrel on Tuesday, and supported by hopes that upcoming meeting of oil producers will agree on steps to tackle a supply glut. The rise was also supported by a weak U.S. dollar and further signs of strong demand in China. oil …

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