Please wait...
GulfBase Live Support
Leave a message and our representative will contact you soon
- Al Mudhaibi Industrial City signs two investment agreements worth OMR5.75 million
- OPAZ invites bids for phase one of Al Rawdah water drainage project
- OBG report highlights Oman's economic transformation
- Dubai Duty Free posts record revenue of $1.1bn for H1
- Gold prices slide after ahead of Fed-watched jobs data
- Commercial Bank awarded 'most innovative use of AI technology' by International Finance
- Qatar aims to develop pioneering open banking ecosystem, says QFC report
- QSE treads flat path even as M-cap edges higher
- Saudi Arabia Advances Financial Market Development with Investment, Regulatory Reforms
- Indonesia Seeks Saudi Investment in Food Security, Technology
25/05/2011 00:00 AST
Brent crude futures slipped below $112 a barrel on Wednesday after industry data showed U.S. crude inventories fell less than anticipated last week and the dollar rebounded against the euro.
The American Petroleum Institute (API) said crude inventories fell 860,000 barrels for the week ended May 20, compared with analysts' expectations for a 1.3 million-barrel draw.
Gasoline stocks rose 2.4 million barrels a week before the Memorial Day weekend, the official start of the summer driving season. Analysts had only expected a 300,000-barrel build.
"The inventory numbers are driving prices lower. The rise in gasoline stocks is significant coming just before Memorial Day. If the EIA numbers show a rise as well that will put more pressure on prices," said Michel Lo, a Hong Kong-based analyst with Nomura International.
As the U.S. driving season approaches, traders have been closely eyeing the steady drawdown of gasoline stockpiles.
For more on this Click Here
Guardian.co.uk
| Ticker | Price | Volume |
|---|
| (In US Dollar) | Change | Change(%) | |
|---|---|---|---|
| Brent | 66.63 | -0.68 | -1.01 |
| WTI | 64.98 | -0.09 | -0.14 |
| OPEC Basket | 68.35 | 0.0000 | 0.0000 |
03/07/2025
Oil futures were little changed on Wednesday as markets weighed expectations from more supply from major producers next month, a softer US dollar and a mixed bag of economic and market indicators fro
Reuters
02/07/2025
Oil prices were slightly higher on Tuesday as investors assessed expectations that OPEC+ will announce an output hike for August at an upcoming meeting, while also keeping an eye on negotiations betw
Reuters
01/07/2025
As the Iran-Israel ceasefire continues to hold after the Islamic republic's barrage of missiles fired at a US base in Qatar last week, the global oil market is once again looking past the geopolitica
Khaleej Times
29/06/2025
Oil prices rose on Friday though were set for their steepest weekly decline since March 2023, as the absence of significant supply disruption from the Iran-Israel conflict saw any risk premium evapor
Reuters
27/06/2025
Oil prices edged higher on Thursday as investors remained cautious about the Iran-Israel ceasefire and shifted their attention to market fundamentals after a stockdraw in the United States.
Asharq Al Awsat
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia