Oil rises over 2% on low US crude draw, delay in OPEC+ output hike; Brent rebounds from 6% drop to hit $73/bbl

Oil rises over 2% on low US crude draw, delay in OPEC+ output hike; Brent rebounds from 6% drop to hit $73/bbl

International crude oil prices rebounded on Wednesday, October 30, rising more than two per cent after data showed US crude and gasoline inventories fell unexpectedly last week and on reports that the Organisation of Petroleum Exporting Countries (OPEC) will likely delay its planned oil output increase. After falling more than six per cent earlier in … Read more

Oil prices rise 2% to hit 3-week high on China stimulus, supply worries by MidEast conflict; Brent reclaims $75

Oil prices rise 2% to hit 3-week high on China stimulus, supply worries by MidEast conflict; Brent reclaims $75

International crude oil prices climbed two per cent to hit a three-week high on Tuesday, September 24, after the monetary stimulus from China, the world’s top importer, and concerns that conflict in the Middle East could hit regional supply. At the same time, another hurricane (after the recent storm Francine) threatened supply in the US, … Read more