Oil prices end at lowest in a week, with U.S. crude supplies up more than expected
Oil futures on Wednesday stretched their losses into a second straight session to settle at their lowest in a week, pressured after official data on U.S. inventories revealed a nearly 6-million-barrel weekly climb.
Crude oil prices today: WTI is trading at $72.85
The Brent/WTI spread has historically ranged between $4/bbl and $8/bbl, but it can expand or contract based on factors related to U.S. and international supply and demand conditions. For example, the Brent/WTI spread hit nearly $14/bbl in April 2011 when protests sparked market fears of significant oil supply disruptions in the Middle East.
U.S. Crude Oil Stockpiles Rise More Than Expected
Inventories rose for a second consecutive week as production picked up and refineries reduced their capacity use, the EIA said.
Oil prices fall with U.S. crude supplies up a second straight week
Oil futures traded lower on Wednesday after the Energy Information Administration reported that U.S. commercial crude inventories climbed by 5.8 million barrels for the week that ended Oct. 4, up a second week in a row.
U.S. Index Futures Slide Slightly; Oil Prices Rise
U.S. index futures dipped slightly in pre-market trading Wednesday after a strong rally in the previous session. Investors are awaiting the Fed minutes and upcoming inflation and bank earnings reports this week,
How rising oil prices could impact the election, according to experts
Oil prices surged about 13% over an 11-day stretch ending on Monday. Prices fell markedly on Tuesday, however, as nearly a ...
Occidental Petroleum says it realized lower prices for oil and gas in Q3
U.S. oil producer Occidental Petroleum on Wednesday flagged lower prices for its oil and gas production in the third quarter, ...
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Could war in the Gulf push oil to $100 a barrel?
Oil markets are nervous. Last week crude prices rose by 10%, to $78 a barrel, their biggest weekly gain in almost two years ...
U.S. crude oil drifts lower, trades below $74 per barrel after selloff
Goldman Sachs sees global benchmark Brent jumping as much as $20 if an Israeli strike disrupts Iranian crude oil production.
Russia reducing share of budget revenue from gas and oil, minister says
Russia is reducing the share of budget revenue derived from gas and oil production and hopes to bring down its reliance on ...
US Oil Production Growth to Slow More Than Expected in 2025
The US expects crude production to grow by just 320,000 barrels a day next year, much slower than previously estimated.
Fears of a Global Oil Shock if the Mideast Crisis Intensifies
The threat of an escalating conflict between Israel and Iran has created an “extraordinarily precarious” global situation, ...
Stock market today: Tech rally leads stocks higher as oil prices plunge and earnings kick off
US stocks rebounded on Tuesday after Monday's losses, with momentum revived by a tech rally and falling crude prices. The ...
Petrol cost rise warning over oil terminal closure
Petrol prices could rise following the closure of an oil depot, drivers are being warned. Dalston oil depot in Cumbria is to ...
Big Oil Urges Trump Not to Gut Biden’s Climate Law
Oil companies try to persuade the former president and his Republican allies not to slash provisions of the Inflation ...