U.S. crude-oil stockpiles are expected to decrease from the previous week in data due Thursday from the U.S. Energy Department, according to a survey of analysts and traders by The Wall Street Journal. Estimates from 10 analysts and traders showed U.S. oil inventories are projected to have fallen by 2.5 million barrels in the week ended Sept. 7, with seven analysts forecasting a decline and three expecting an increase.
Fujairah Oil Industry Zone on
Wednesday published the following weekly inventory data for oil
products for the week ended Sept. 6, according to industry
information service S&P Global Platts.
BHP Group Ltd. (BHP), the world's largest miner by market value, has formed an exploration alliance with KoBold Metals, a Silicon Valley startup backed by Bill Gates-led Breakthrough Energy Ventures, the companies said on Wednesday. KoBold, which is focused on using artificial intelligence to find new sources of electric-vehicle and renewable-energy metals, will initially partner with BHP to search for commodities such as nickel and copper in Western Australia before expanding...
Oil prices jumped on Wednesday and settled up more than 1% as U.S. Gulf of Mexico producers made slow progress in restoring output after Hurricane Ida. Brent settled up 91 cents, or 1.3%, at $72.60 and U.S. West Texas Intermediate crude settled up 95 cents, or 1.4%, to $69.30 a barrel.
Front Month ICE Brent Crude for Nov. delivery lost 53 cents per barrel, or 0.73% to $71.69 today. --Largest one day dollar and percentage decline since Wednesday, Sept. 1, 2021. --Down for three consecutive sessions.
Front Month Nymex Crude for Oct. delivery lost 94 cents per barrel, or 1.36% to $68.35 today-- Largest one day dollar and percentage decline since Thursday, Aug. 26, 2021-- Down for two consecutive sessions-- Down $1.64 or 2.34% over the last two sessions-- Largest two day dollar and percentage decline since Friday, Aug. 20, 2021-- Lowest settlement value since Thursday, Aug. 26, 2021-- Off 9.17% from its 52- week high of $75.25 hit Tuesday, July 13, 2021-- Up 90.98% from its 52- week low of $35.79 hit...
Front Month Nymex Natural Gas for Oct. delivery lost 14.40 cents per million British thermal units, or 3.06% to$ 4.5680 per million British thermal units today. --Largest one day dollar decline since Friday, July 30, 2021. --Largest one day percentage decline since Thursday, Aug. 12, 2021.
The head of Russia's No. 2 oil producer Lukoil said that oil prices of $65-$75 were "comfortable" for consumers and that the OPEC+ group of leading oil-producing nations was striving to maintain that price range by regulating output. In an interview with the Kommersant newspaper published on Tuesday, Vagit Alekperov said curbs on oil output would depend on market conditions.
Oil prices fell on Tuesday, pressured by a strong U.S. dollar and concerns about weak demand in the United States and Asia, although ongoing production outages on the U.S. Gulf Coast capped losses.
Front Month ICE Brent Crude for Nov. delivery lost 39 cents per barrel, or 0.54% to $72.22 today. --Down for two consecutive sessions. --Down 81.00 cents or 1.11% over the last two sessions.
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