crude oil News

U.S. Oil Inventories Surge: Crude Up 622K Barrels, Gasoline and Distillates See Sharp Declines

U.S. crude oil inventories rose by 622,000 barrels in late August, while distillate and gasoline stocks fell sharply. Cushing reserves increased significantly, per API data.

U.S. Oil Reserves Surge: A Closer Look at the 1.51M Barrel Increase and Its Market Implications

The American Petroleum Institute reports a 1.51 million barrel increase in U.S. crude oil inventories for the week ending August 8, alongside mixed changes in distillate and gasoli...

Oil Prices Dip as Iraq Considers Restarting Kirkuk-Baniya Pipeline Through Syria

Oil prices declined after Iraq suggested restarting the Kirkuk-Baniya pipeline through Syria, while OPEC maintained its oil demand growth forecast for 2025. WTI and Brent crude pri...

WTI Crude Oil Prices Drop Nearly 2% Amid Rumors of Russia-Ukraine Air Truce

Crude oil prices fell nearly 2% following reports of a possible limited air truce between Russia and Ukraine, potentially easing US sanctions pressure. WTI and Brent prices both ex...

U.S. Oil Reserves Surge: A Closer Look at the 1.53 Million Barrel Increase and Its Market Impact

The United States has reported a 1.53 million barrel increase in crude oil inventories for the week ending July 25, with significant changes in distillate and gasoline stockpiles, ...

Surprising Drop in US Oil Inventories: A 577,000 Barrel Decrease Sparks Market Interest

The US crude oil inventories decreased by 577,000 barrels last week, with mixed movements in distillate and gasoline stocks, and a rise in Cushing reserves, signaling market volati...

Surprising Spike: US Oil Inventories Jump by 19.1M Barrels in Latest Week

The latest API data reveals a significant 19.1 million barrel increase in US crude oil inventories for the week ending July 11, alongside decreases in distillate and gasoline stock...

Rupee Gains Strength: A 16 Paise Rise Against Dollar Amid Crude Oil Dip and Dollar Weakness

The rupee rose by 16 paise to 85.76 against the US dollar, supported by a weaker dollar and lower crude oil prices, though trade negotiations and fund outflows limited gains. Domes...

WTI Crude Prices Drop 2% Following Trump's Underwhelming Russia Sanctions Announcement

WTI crude oil prices fell 2% after President Trump did not announce expected sanctions on Russian oil, despite previous hints at significant actions. The market reacted negatively,...

Surprising Surge: US Oil Inventories Jump by 4.29M Barrels, Distillates Also Rise

US crude oil inventories surged by 4.29 million barrels last week, with distillates also rising unexpectedly. Gasoline stockpiles fell, and Cushing reserves saw a decrease, indicat...

Oil Prices Surge Over 1% Amid Optimism Over US-China Trade Negotiations

Crude oil prices surged over 1% following US Treasury Secretary's confirmation of upcoming trade talks with China and the Federal Reserve's decision to keep interest rates unchange...

Oil Prices Surge Over 1% Amid Falling US Inventories and Rising Geopolitical Tensions

Crude oil prices surged over 1% following reports of a 4.5 million barrel drop in U.S. inventories and increased demand in Europe and China. Geopolitical tensions, including confli...

Oil Prices Take a Dip Amid OPEC+ Meeting Anticipation and US-China Trade Tensions

Crude prices fell as investors await the OPEC+ meeting and remain doubtful about China-US trade dispute resolution. Concerns over global economic downturn and reduced oil consumpti...

Oil Prices Take a Dip Amid OPEC+ Meeting Anticipation and US-China Trade Tensions

Crude prices fell as investors remain cautious ahead of OPEC+'s meeting and doubtful about US-China trade talks. Concerns over economic downturn and reduced oil consumption, alongs...

Oil Prices Slide Amid OPEC+ Meeting Anticipation and US-China Trade Tensions

Crude prices declined as investors await OPEC+'s meeting and remain doubtful about US-China trade dispute resolution. Concerns over economic downturn and reduced oil consumption, a...

Oil Prices Slide Amid Skepticism Over US-China Trade Talks and OPEC+ Meeting

Crude oil prices declined due to investor skepticism over US-China trade talks and anticipation of the OPEC+ meeting. Concerns over a global economic downturn and reduced oil consu...

Oil Prices Dip Amid Skepticism Over US-China Trade Talks and OPEC+ Meeting

Crude prices declined amid investor skepticism over US-China trade talks and anticipation of the OPEC+ meeting. Concerns over global economic downturn and reduced oil consumption, ...

Surprising Surge in US Oil Inventories: A 3.76M Barrel Increase Sparks Market Interest

US crude oil inventories rose by 3.76 million barrels last week, with mixed changes in distillate and gasoline stockpiles, and an increase in Cushing reserves, according to API dat...

Trade Tensions Spark Sharp 2.5% Drop in Oil Prices as China Warns U.S.

Crude oil prices fell nearly 3% as China's Commerce Ministry warned the U.S. to stop making threats, escalating trade tensions and raising concerns over oil demand impact. WTI and ...

Global Oil Prices Plunge Over 2% Amid Escalating US-China Trade Tensions

Crude oil prices fell by over 2% following China's denial of a call between US President Trump and China's President Xi, exacerbating trade tensions. US Treasury Secretary Bessent ...

Oil Prices Surge Over 1% Amid Gaza Conflict and OPEC+ Production Cuts

Crude oil prices rose over 1% as Gaza ceasefire hopes faded and OPEC+ reported a production decline. WTI and Brent crude prices saw immediate increases, reflecting market reactions...

China's New Tariffs Spark a 6.5% Plunge in Oil Prices, Stirring Global Market Concerns

Crude oil prices fell more than 6% after China announced increased tariffs on US goods, responding to US tariffs on Chinese imports. WTI and Brent prices dropped significantly, hig...

Oil Prices Plunge Over 4% to Lowest Since December 2021 Amid Demand Worries

Crude oil prices extended losses on Friday due to concerns over demand drop from U.S. trade tariffs and OPEC+'s unexpected output increase announcement, leading to significant pric...

Surprising Surge: US Oil Inventories Jump by 4.6 Million Barrels, What's Next?

Recent data from the American Petroleum Institute shows a significant increase in US crude oil inventories, with a rise of 4.593 million barrels. Meanwhile, distillates and gasolin...

Unexpected Surge: US Oil Inventories Jump by 4.2M Barrels, Raising Market Eyebrows

The US crude oil inventories unexpectedly rose by 4.2 million barrels in early March, exceeding expectations. Gasoline stocks fell, while distillates increased slightly. Cushing re...

US Oil Inventories See Significant Drop: A Closer Look at the Latest API Report

The latest API report reveals a 1.45M barrel drop in US crude oil inventories, alongside mixed changes in distillate and gasoline stocks, and a notable increase in Cushing, Oklahom...

Global Oil Prices Drop Over 2% Following OPEC+ Decision to Increase Supply

Crude oil prices experienced a significant drop following OPEC+'s announcement to gradually increase oil supply. West Texas Intermediate and Brent crude prices fell by over 2%, mar...

Global Oil Prices Dip 1% as US-China Tariff Tensions Escalate

Crude oil prices fell over 1% after US President Donald Trump announced additional tariffs on China, prompting a strong response from the Chinese Foreign Ministry. WTI and Brent cr...

Surprising Surge: US Oil Inventories Jump by 9.043 Million Barrels

The US witnessed a significant 9.043 million barrel increase in crude oil inventories for the week ending February 7, alongside shifts in distillate and gasoline supplies, and a ri...

US Tariffs Spark Global Tensions: Oil Prices Surge Over 1%

Crude oil prices jumped over 1% following President Trump's announcement of new global tariffs on aluminum and steel, sparking international criticism and market reactions. WTI and...

US Oil Reserves Surge: A Million Barrel Increase Stirs Market Speculations

The United States has seen a notable increase in its crude oil, distillate, and gasoline inventories, with Cushing, Oklahoma, also reporting a rise in reserves. This development co...

Unexpected Drop: US Oil Inventories Decrease by 2.6M Barrels, Signaling Market Shifts

US crude oil inventories unexpectedly dropped by 2.6 million barrels last week, while distillate and gasoline stockpiles saw significant increases. Cushing, Oklahoma's reserves als...