Fujairah Oil Industry Zone on Wednesday published the
following weekly inventory data for oil products for the week ended April 19, according to
industry information service S&P Global Platts.
Oil prices fell for a second day on Wednesday, weighed down by concerns that surging COVID-19 cases in India will drive down fuel demand in the world's third-biggest oil importer. Brent crude futures for June declined 95 cents, or 1.4%, to $65.62 a barrel at 0941 GMT, heading for their biggest daily drop in over two weeks.
* Libya declares force majeure on Hariga port. * One year since WTI sank to minus $40.32 on massive glut. * Coming up: API oil inventory report, 2030 GMT. By Alex Lawler. Oil rose to $68 a barrel and hit its highest in a month on Tuesday, supported by disruption to Libyan exports and expectations of a drop in U.S. crude inventories, though rising coronavirus cases in Asia limited gains.
Crude futures settled lower on Tuesday, pulling back from one-month highs, on fears that India, the world's third-biggest oil importer, may impose restrictions as coronavirus infections and deaths surge to record highs. Oil prices have risen steadily this year on anticipation that demand would recover, but while the United States and China are rebounding, numerous other countries are not.
Oil prices edged higher on Monday, supported by a weaker U.S. dollar but gains were capped by concerns about the impact on demand from rising coronavirus cases in India. Brent crude settled up 28 cents, or 0.4%, at $67.05 a barrel, after rising 6% last week. The U.S. dollar traded at a six-week low versus major peers on Monday, with Treasury yields hovering near their weakest in five weeks.
- In January, Occidental Petroleum announced it had accomplished something no oil company had done before: It sold a shipload of crude that it said was 100% carbon-neutral.
In January, Occidental Petroleum (OXY) announced it had accomplished something no oil company had done before: It sold a shipload of crude that it said was 100% carbon-neutral.
NEW YORKa -Oil settled modestly lower on Friday but secured a weekly gain on a stronger demand outlook and signs of economic recovery in China and the United States that offset concerns about rising COVID-19 infections in other major economies. Brent crude settled down 17 cents, or 0.3%, at $66.77 a barrel.
- Bankruptcies by North American oil producers rose to the highest first-quarter level since 2016, according to a report released on Thursday by law firm Haynes and Boone, as some energy firms struggled to recover from the 2020 crash in oil prices.
Bankruptcies by North American oil producers rose to the highest first-quarter level since 2016, according to a report released on Thursday by law firm Haynes and Boone, as some energy firms struggled to recover from the 2020 crash in oil prices.
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