Oil fell sharply on Wednesday, with investors on hold after the rise of US crude stocks, as they wait for the “response” of OPEC + to the coordinated release of strategic stocks from various countries. The U.S. Energy Information Administration said Wednesday that U.S. crude stockpiles rose 1 million barrels in the week ended Nov. […]
Tag: oil
2.3% jump for crude despite the release of strategic stocks
LAST UPDATE 22:55 Oil closed sharply on Tuesday, despite US President Joe Biden’s decision to release quantities from US strategic reserves as part of a concerted effort by energy-consuming countries to tackle the price rally. In particular, the January crude contract gained $ 1.75 or 2.3% and completed trading at $ 78.50 a barrel on […]
Oil Rises – US Strategic Stocks Released Not ‘Convincing’
LAST UPDATE: 16:39 Despite temporary pressure on oil prices following the White House announcement that the United States plans to release up to 50 million barrels of crude oil from its strategic reserves in the coming months to normalize sparked fuel prices, its contracts argon returned very quickly to an upward trajectory. As announced, the […]
USA: They throw 50 million barrels of crude oil on the market from strategic reserves
LAST UPDATE: 15.15 The United States is set to release 50 million barrels of crude oil from the country’s strategic oil reserves to help normalize fuel prices, the White House said on Tuesday. The oil that the US will release from its strategic reserves will reach the market in mid-late December, as senior officials of […]
Japan – India – USA: Search for ways to dispose of national crude reserves
Japanese and Indian officials are working to find ways to sell national crude oil reserves along with the US and other major economies to cut prices, seven government sources familiar with the plans told Reuters. Such an announcement can be made even today, according to a source who has become aware of the discussions. The […]
Japan: Considers releasing oil reserves to limit growth
A Japanese government spokesman has said the government is considering releasing oil reserves to help curb rising prices. Japan has stocks equal to consumption needs for 242 days. These include direct government reserves, some reserves that are legally required to be maintained by oil companies, and reserves from oil-producing countries, which must be offered to […]
Japan: Considers releasing oil from its reserves to reduce prices
The Japanese government is considering releasing oil from its reserves to deal with rising crude prices, the Japanese Kyodo news agency reported today, without citing sources. It will be the first time that Japan has released its oil reserves to reduce prices, although the country has used its reserves in the past at a time […]
At 7 week low oil – Losses over 4% per week
At the lowest level of the last seven weeks, the oil closed on Friday, recording losses for the fourth week in a row, the biggest negative series in almost 20 months. Oil prices came under pressure today as the new lockdown in Austria rekindled concerns about demand. The Austrian government announced today that the country […]
Oil: Profits of around 1% against the background of the coordinated release of stocks
Recovery for oil prices on Thursday, which moved away from the 6-week low recorded at yesterday’s meeting. US crude futures have fallen from their recent highs as traders appear to have “costed” the impact of a possible coordinated oil release from US and China strategic reserves, said Edward Moya, an Oanda analyst. However, “the oil […]
Biden’s request to major countries for coordinated release of crude stock
LAST UPDATE: 23.44 The United States has asked some of the world’s largest oil consumers to consider releasing some of their crude reserves in a concerted effort to cut prices and boost economic recovery, according to Reuters, citing insiders. . World oil prices hit a seven-year high in late October as people around the world […]
