Brent Crude Rises on Yemen Clashes, Sharp Decline in U.S. Oil Inventories
4 Articles
4 Articles
Oil prices have moved from a daily maximum to a bid on Wednesday, but remain on the plus side against the backdrop of continuing tensions in the Middle East, as well as data on the decline in US energy reserves.
Oil prices reinforced their gains during Wednesday's dealings, with rising tensions in the Middle East that raised concerns about supply disruptions, while declining stocks of crude and petroleum products in the United States contributed to market support. The Bank of Goldman Sachs stated in a memo issued yesterday Tuesday that the global average freight costs for crude oil are still seven times higher than [...].
Brent Crude Rises on Yemen Clashes, Sharp Decline in U.S. Oil Inventories
Noida, Oct 21 (APAC Media): Brent crude futures climbed on Wednesday as escalating geopolitical tensions in the Middle East heightened concerns over potential supply disruptions, while a sharp decline in U.S. crude inventories pointed to tightening oil market conditions in the world’s largest fuel-consuming nation. Brent crude futures rose 1.8% to $110.60 per barrel by […] The post Brent Crude Rises on Yemen Clashes, Sharp Decline in U.S. Oil In…
Oil prices rose again on Wednesday (21/10) as attacks on shipping in the Persian Gulf and the lack of signs of diplomatic progress to end the war between the United States and Iran increased fears of supply disruptions. At the same time, Brent crude oil held near its highest levels in the last five months, while the market was supported by the reduction in US crude oil and refined products inventories. Against the background of the above develop…
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