GulfBase Live Support
28/01/2010 00:00 AST
Oil prices rebounded in Asian trade on Thursday after steep declines overnight following the release of mixed energy stockpiles data
from the United States.
New York's main futures contract, light sweet crude for delivery in March, climbed 11 cents to USD 73.78 a barrel. It dropped USD 1.04 to USD 73.67 in New York trade yesterday, its lowest close since December 22.
London's Brent North Sea crude for March delivery was up 14 cents to USD 72.38.
Analysts said the closely watched weekly stockpiles report for the United States, the world's biggest energy consumer, depressed the market. "The large crude draw was positive but products continue to disappoint," said DnB Nor Markets analyst Torbjorn Kjus.
The US Department of Energy said yesterday that crude oil inventories plunged 3.9 million barrels in the week ended January 22, surprising most analysts who had expected an increase.
However, the crude stockpiles were still 5.1 per cent below their year-earlier level.
Distillates, including diesel and heating fuel, rose 4,00,000 barrels last week, instead of the much larger increase expected by the market.
The Economic Times
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
SAMBA | 26.98 | 1,138,683 |
STC | 83.41 | 257,644 |
DARALARKAN | 13.47 | 74,648,349 |
(In US Dollar) | Change | Change(%) | |
---|---|---|---|
Brent | 68.12 | -2.02 | -2.88 |
WTI | 63.51 | 0.5 | 0.79 |
OPEC Basket | 64.98 | -1.5 | -2.26 |
05/04/2018
Opec crude production dropped to the lowest in a year amid the woes in Venezuela’s oil industry. Output from the 14 members of Organisation of Petroleum Exporting Countries fell by 170,000 barrels to
Gulf News
03/04/2018
Oil’s rally above $65 a barrel is being propelled by a sign that American explorers have curtailed drilling activity as well as ongoing speculation that the US could reimpose sanctions on Opec produc
Gulf News
29/03/2018
The Organization of the Petroleum Exporting Countries (Opec) is seeking “very long-term” cooperation with other crude exporters, the secretary general of the oil exporting group said on Wednesday.
The Gulf Today
28/03/2018
Saudi Arabia and Russia are working on a long-term oil pact that could extend controls over world crude supplies by major exporters for up to 20 years, the Kingdom’s crown prince has said.
Arab News
27/03/2018
International oil prices are likely to tick up into the “high-sixties” further into 2018, according to Dr Mohammed bin Hamad al Rumhy, (pictured) Minister of Oil and Gas. Speaking at the opening of t
Oman Daily Observer