Bloomberg reports that U.S. crude-oil supplies probably dropped to their lowest level in three months as refinery demand increased with the end of seasonal maintenance.
Articles Tagged "inventories"
Crude oil futures on Wednesday added another 1.18 per cent, extending its Tuesday’s gain on the Multi Commodity Exchange largely on the back of firming global trend on reports of a dip in its inventories in the US, the world’s leading energy consumer. For full story, click here
U.S. crude futures extended gains to trade firmly above $70 a barrel on Thursday, after a 1 percent surged a day earlier, as Asian stocks followed Wall Street higher, offsetting a larger-than-expected build in U.S. crude inventories. For full story, click here
Its a top oil firm after the $23-billion deal and is soon expected to be a must-have stock. Suncor Energy Inc, newly bulked up from its C$22.5 billion (US$ 20.8 billion) acquisition of Petro-Canada, would likely be the No. 2 issue on the Toronto Stock Exchange's (TSX) benchmark index GSPTSE, with a market cap close to C$55 billion. Suncor is set to be Canada's biggest energy company and largest industrial concern. The beefed-up firm is likely to see early demand for its shares from index funds. It is also set to attract big investors that need substantial holdings in large, liquid stock issues.
U.S. crude futures surged towards $72 a barrel on Wednesday, erasing a 0.2 percent loss made the previous day, after industry data showed a surprise drawdown in U.S. crude oil inventories last week against a forecast for a stock build. For full story, click here
U.S. crude oil futures slipped on Tuesday as concerns about the pace of economic recovery and continued tepid demand amid swollen inventories took crude prices off an early high in choppy trading. For full story, click here
U.S. crude futures surged by $1.00 a barrel to hit a new seven-month above $71 on Wednesday, extending the previous session’s gain of 2.8 percent after data showed a steep dip in U.S. crude inventories. For full story, click here
Crude oil demand has begun to recover, as stockpiles are drawn down, but distillate inventories remain bloated, with traders banking on cheap freight to store excess supplies on vessels. For full story, click here
Oil rose for a second day on Wednesday, after an industry group reported U.S. crude stockpiles dropped for the second week in a row and the dollar declined. Oil has climbed 34 percent this year, tracking global equity markets on optimism that an economic recovery will spur demand for fuel. Additional support for crude prices came from the dollar, which fell to the lowest level against the euro since March, bolstering demand for commodities as a hedge against inflation.
Crude oil fell on Tuesday, snapping four days of gains, on concern a U.S. government report will show stockpiles climbed from the highest level since September 1990. Crude oil for June delivery declined as much as 77 cents, or 1.4 per cent, to $53.70 a barrel in electronic trading on the New York Mercantile Exchange. Oil is up 21 per cent this year.