US EditionOil Prices Set to Extend Losing Streak as Floating Storage Soars
4 Articles
4 Articles
Oil Prices Set to Extend Losing Streak as Floating Storage Soars
Crude oil prices were on course for another weekly decline today as worries about a supply overhang deepened amid reports of record crude oil volumes going into floating storage and despite the first signs of disruption in outbound Russian oil flows following the latest U.S. sanction push. At the time of writing, Brent crude was trading at $63.69 per barrel and West Texas Intermediate was changing hands for $59.73 per barrel. Both benchmarks wer…
WTI Oil Price Struggling Near $59.50 Amid Oversupply
WTI oil prices keep stumbling, sustaining near $59.50 a barrel after 3 straight days of losses. There was a small bounce during Thursday’s Asian hours, but honestly, the mood in the market is still pretty grim. Traders keep watching those growing crude inventories, and that’s just fueling more oversupply worries. US Energy Information Administration numbers […] The post WTI Oil Price Hovers Around $59.50 Due to Oversupply Fears appeared first on…
The price of intermediate oil from Texas (WTI) fell by 1.59 percent this Wednesday, to 59.60 dollars a barrel, after this Sunday the OPEC+ alliance decided to increase its oil supply from December. The entry Texas oil drops by 1.59 percent to 59.60 dollars a barrel was first published in Digital Process.
Oil prices fell by more than 1% on Wednesday, at a minimum of two weeks due to the pressure of concern over a possible global oversupply of hydrocarbons, but data showing signs of strong fuel demand in the United States limited losses.Brent crude futures closed with a drop of 92 cents, or 1.43%, to $63.52 per barrel, while US crude West Texas Intermediate closed with a drop of 96 cents, or 1.59%, to $59,60.Mexican export mix stood at $56.77 per …
Coverage Details
Bias Distribution
- 100% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
