Singapore — Oil prices fell on Thursday after an unexpected rise in US crude oil inventories and as increasing Covid-19 infections threaten demand, but prices held on to most of their gains from the previous session on expectations that supplies will remain tight through year-end.
“Volatility in energy remains elevated as traders grapple with short-term demand weakness from Delta variant concerns and expectations the crude deficits will last till the end of the year,” said Edward Moya, senior analyst at Oanda. Crude inventories in the US, the world’s top oil consumer, rose unexpectedly by 2.1-million barrels last week to 439.7-million barrels, up for the first time since May, US Energy Information Administration data showed.Still, petrol and distillate inventories posted draws of 121,000 barrels and 1.3-million barrels, respectively, indicating higher demand due to the summer driving season.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MARKET WRAP: JSE tracks firmer global markets after Covid-19 sell-offOil prices extend gains from the previous session as improved risk appetite provids support So many bitcon traders on Twitter are trickster Lindastouff thank you for opening my eyes to their ways now I’m pretty sure I’ll be able to help others
Source: BDliveSA - 🏆 12. / 63 Read more »
JSE could see a rebound on TuesdayWhile Asian stock markets were still on edge amid rising Covid-19 cases fuelled by the coronavirus Delta variant, stock futures in Europe and Wall Street suggested that these markets could bounce back, after a sharply weaker session on Monday.
Source: SowetanLIVE - 🏆 13. / 63 Read more »
Oil dips after surprise increase in US stocksAn unexpected build-up in US inventories has heightened the worry about a resurgence in Covid-19 infections potentially dampening demand I owe you an apology to ever doubt your sincerity and professionalism ambrey_marcus . It’s was just like a dream to me when I received my first payment. After my second payment it became a reality now after several payments it has become a way of life. ambrey_marcus
Source: BDliveSA - 🏆 12. / 63 Read more »
Investors pile into safe-haven assets as Covid-19 cases soarEuropean stocks rose ahead of a European Central Bank meeting on Thursday expected to convey a dovish tone I'm happy to join those who are sharing the good news about liam. I'm not persuading anyone to trade with him but i advise every investor to make the right choice with liam_garret21 i got my withdrawal safely without any interruption.
Source: BDliveSA - 🏆 12. / 63 Read more »