Oil rises as US inventory declines heighten supply concerns

3 hours ago · Oil prices rose for a second day on Thursday after a larger-than-expected decline in U.S. crude oil stockpiles added to supply concerns stoked by U.S. sanctions against Russian energy trade.

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Oil Prices Fall As U.S. Inventories Rise And Demand Declines

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Sep 13, 2023 · 1452 ET – US crude-oil futures finish 0.4% lower at $88.52 a barrel in what was just the third decline in the past 14 sessions. Bullish investors seemed to be aiming for a 2023 …

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Oil Gains Nearly 2% On US Inventory Draw, Fear Of Supply …

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Mar 13, 2024 · On Tuesday, the American Petroleum Institute, API, reported a 5.5-million-barrel draw on U.S. crude oil inventories for the previous week, giving oil prices some fresh impetus …

oilprice.com

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Oil Rises On US Stockpiles Drawdown, OPEC+ Mulls Output Hike Delay

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Oct 30, 2024 · NEW YORK (Reuters) -Oil prices rebounded on Wednesday, rising more than 2% after data showed U.S. crude and gasoline inventories fell unexpectedly last week and on …

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FAQs about Oil rises as US inventory declines heighten supply concerns Coupon?

Why did oil prices rise a second day?

Oil prices rose for a second day on Thursday after a larger-than-expected decline in U.S. crude oil stockpiles added to supply concerns stoked by U.S. sanctions against Russian energy trade. ...

Why are oil prices falling?

An additional driver for oil prices came from traders expecting inventory declines over the week to September 13. The American Petroleum Institute reports inventory estimated later today and the EIA releases its report on Wednesday. Per a Reuters poll, crude oil inventories could have shed some 200,000 bpd in the reporting period. ...

Why did crude oil prices rise?

Prices rose after the U.S. Energy Information Administration reported on Wednesday domestic crude oil stocks fell for the seventh time in a row last week, the longest declining streak since July 2021. ...

Will future oil supply shortages drive prices to $100 a barrel?

Future oil supply shortages are likely to drive prices toward $100 a barrel by the end of the year, Goldman Sachs said in a note on Sunday. Prices will move higher "as the market pivots back to deficit with underinvestment, shale constraints and OPEC discipline ensuring supply does not meet demand," analysts at the investment bank wrote. ...

Why are global crude oil supplies tightening?

Global crude oil supplies are expected to tighten in the months ahead as fresh U.S. sanctions on Russian oil producers and tankers have sent Moscow's top customers scouring the globe for replacement barrels, while shipping rates have surged too. ...

Why did Russian oil prices drop?

The drop added to a tightened global supply outlook after the U.S. imposed broader sanctions on Russian oil producers and tankers. The new U.S. sanction measures have sent Moscow's top customers scouring the globe for replacement barrels, while shipping rates have surged too. ...