Wednesday, February 28, 2024

Oil prices breathe a sigh of relief after a sustained rise of 3 sessions


Fell back US West Texas Interim Crude Futures Deals 64 cents or 0.5%, $ 111.12 a barrel at 0350 GMT.

And fell Brent crude futures deals August delivery 61 cents or 0.5%, $ 116.99 a barrel. The August deal expires on Thursday and the September deal was down 66 cents, or 0.6%, at $ 113.14, the most active level.

Data from are shown OPEC OPEC oil export earnings rose approximately 77% year-on-year to $ 561 billion, supported by a year-on-year recovery in crude prices, while recording a small number of active drilling tools for its members. Recovery and collapse of new completed wells.

In this context, analysts have warned that political turmoil is looming Ecuador And Libya May increase supply shortages.

Showed data for Petroleum Company That US crude stocks For the week ended June 24, they fell about 3.8 million barrels, while gasoline stocks rose 2.9 million barrels.

And recorded Filter the stockThis includes Diesel And heating oil, an increase of about 2.6 million barrels.

Markets are waiting for government data on oil stocks to be released today, Wednesday, and will cover the last two weeks together, after official figures were postponed due to computer software issues last week. US crude stocks It is expected to decline in the last two weeks.

See also  US stock indices rose at the end of today's session; The Dow Jones Industrial Average rose 0.01%.
Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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