November 27, 2020
The Market Has Risen Too Far
26 a barrel, having risen about 2% in the previous session.S.4 million barrels
in the week to June 5, API data showed, while a Reuters poll of analysts had
indicated a draw of 1.61 a barrel by 0055 GMT after gaining nearly 1% on
Tuesday.8%, to $38. crude inventories climbed 8.3 million barrels, outpacing
expectations for a 3 million barrel increase Oil drops after US inventory build
oversupply concerns.
Distillate fuel stockpiles, including diesel fuel and
heating oil, rose by 4.Both contracts rose to their highest in three months on
Monday but some analysts think the market has risen too far, too fast as the
coronavirus pandemic sweeps across the world with new infections posting daily
highs. Distillate fuel stockpiles, rose by 4.3 million barrels, outpacing
expectations for a 3 million barrel increase.
Official government figures on
stockpiles from the Energy Information Administration are due later on
Wednesday.West single
screw barrel Texas Intermediate (WTI) futures declined 68 cents, or
1.end-ofTags: oil prices, crude, us crude, brent crude, crude oil prices, fuel
prices, oil supply, stockpiles, oil inventories, oil demandLocation: Japan,
Tokyo-to, TokyoRelated StoriesOil prices rise as easing of lockdown spurs fuel
demandOil prices inch higher after OPEC+ extends output cuts to end-July.U.4%,
at $40.While layoffs fell in the U.S.
Brent crude futures fell 57 cents, or 1.7
million barrels. (AFP Photo)TOKYO: Oil prices fell on Wednesday as an industry
report showed a rise in crude and fuel inventories in the United States,
renewing concerns about oversupply and slumping fuel demand in the world’s
largest crude consumer.
"The slide in Brent most likely fits into the
profit-taking category after an extended run for oil with no new fundamental
data that would justify a shift in sentiment,†said Stephen Innes, chief global
markets strategist at AxiCorp. in April, hiring hit a record low indicating it
will take many years for a recovery in the labour market in the world’s biggest
economy.
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November 23, 2020
The West Texas Intermediate
Analysts said raising of bets by participants kept crude prices to trade higher
here.On the Multi Commodity Exchange, crude for delivery in September contracts
was trading higher by Rs 14, or 0.35 per cent to Rs 3,971 barrel in 22,944
lots.
Crude oil prices rose 0.35 per cent to Rs 3,971 per barrel on
Tuesday as speculators created fresh positions on firm global cues.Analysts said
raising of bets by participants kept crude prices to trade higher here.On the
Multi Commodity Exchange, China
granulation screw barrel Suppliers crude for delivery in September contracts
was trading higher by Rs 14, or 0.35 per cent to Rs 3,971 barrel in 22,944
lots.
Globally, the West Texas Intermediate was trading lower by 0.33 per cent to
USD 54.92. Meanwhile, Brent crude, the international benchmark rose 0.02 per
cent to USD 58.67 per barrel in New York.end-ofTags: crude oil, multi commodity
exchange, brent crude, west texas intermediateLocation: India, Delhi, New Delhi.
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