Category: Petroleum Daily

Oil prices were off today, as concerns build over rising Covid cases and the state of the economy in Q1 and going forward. This is the first weekly decline in 3 weeks as financial contracts had been boosted by strong equities and weaker dollar.

Oil prices were trading down for the day before trading up later in session on news of a big proposed stimulus package by the incoming administration.

Oil prices traded down today as there was a draw in crude stockpiles for the 5th straight week but another build in refined product inventories.

Oil prices rose today, hitting 11 month highs, buoyed by Saudi Arabias production cuts.

Oil prices eased today along with other financial markets. “The renewed concerns about demand due to very high numbers of new corona

Oil prices hit 11-month highs and closed higher for the week, supported by Saudi Arabia’s pledge to cut output and strong gains in major equity markets

Oil prices rose today, touching fresh 11-month highs, likely on anticipation of increased stimulus under a Biden administration. The new administration would likely spend significant amounts of money

“We had a very substantial crude oil inventory draw helped by a second week of very robust crude oil exports as well as an increase in refinery utilization now exceeding 80 per cent,”

Oil railed today with both contracts eking out more than 4% gains on the day, as WTI broke $50 for the first time since Feb before slightly trading down.

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