Front-month Brent crude futures, international benchmark for oil, were up 1.3 per cent at 65.91 dollars by 0341 GMT. They earlier touched their highest since May 31 at 66 dollars a barrel.crude futures were at 58.98 dollars per barrel, up 1.8 per cent from their last settlement. WTI earlier hit its strongest level since May 30 at 59.03 dollars a barrel.
U.S. crude stockpiles fell by 7.5 million barrels in the week ended June 21 to 474.5 million, compared with analyst expectations for a decline of 2.5 million barrels, the data showed. Crude stocks at U.S. delivery hub Cushing, Oklahoma, fell by 1.3 million barrels. “Oil prices have been squeezing higher on escalating tensions in the Middle East. But with late-day draws showing up in the API report, this is a strong signal for the energy market,” Mr Innes said.
Bilateral tensions between the two have spiked anew after Iran shot down a U.S. drone last week in the Gulf. Relations have been tense since Washington blamed attacks on oil tankers just outside the Gulf in May and June on Iran, while Tehran has repeatedly said it had no role in the incidents.
Shebi Buhari has been selling oil since without interference
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
JUST IN: Oil prices drop amid demand worries – Daily TrustOil fell on Tuesday amid concerns over the outlook for crude demand, but prices were supported after Washington announced new sanctions...
Source: Daily Trust - 🏆 13. / 51 Read more »
‘Forte Oil Set For New Frontiers’With his proven track record, the new chief executive officer of Forte Oil, Olumide Adeosun would be taking the company to new frontiers market. According to a release from Forte Oil to LEADERSHIP, with extensive knowledge developed over 18 years of experience encompassing oil and gas, renewable energy, power, and strategy both locally and internationally, […]
Source: LeadershipNGA - 🏆 4. / 77 Read more »
Forte Oil New CEO Assures Stakeholders of Better Performance - THISDAYLIVEGoddy Egene The new Chief Executive Officer of Forte Oil Plc, Mr. Olumide Adeosun yesterday assured stakeholders that the petroleum marketing firm will remain listed on the Nigerian Stock Exchange and would not buy out the minority shareholders. Adeosun, spoke against the background of apprehension that following the entry of new investors who bought over … Here is another opportunity to leave and work in Canada and Australia, they’re both work permit visa with accommodation. Contact MR ADEBAYO On: +2348032285078, for more information
Source: THISDAY LIVE - 🏆 14. / 51 Read more »
Belemaoil Lifts Two Musicians, Others With N30mIndigenous oil firm, Belemaoil Producing Limited yesterday empowered 10 people, including two musicians, Dauye Youdubagha, and Tamunoemi Debo-Gold, with about N30 Million to start-up businesses. While Youdubagha, popularly known as Baba Sempe, hails from Opukuma Community in Kolokuma/Opukuma local government area of Bayelsa State, Tamunoemi Debo-Gold, hails from Buguma in Asari-Toru local government area of Rivers State. […]
Source: LeadershipNGA - 🏆 4. / 77 Read more »
Saudi Aramco Concerned Over Gulf Attacks – CEOSaudi Aramco is concerned at recent actions in the Gulf, but can meet its customers’ needs thanks to its experience and the availability of additional spare capacity, its chief executive said on Tuesday. “What’s happening in the Gulf is definitely a concern,” Amin Nasser, president and chief executive of Saudi Arabia’s state oil giant, told […]
Source: LeadershipNGA - 🏆 4. / 77 Read more »
SEC Opposes Move By Oando To Join Tinubu, Boyo Suit Challenging SackAn attempt by Oando Plc and some of it directors to join the suit filed by the embattled Group Chief Executive Officer of Oando Plc, Wale Tinubu challenging his sack, was yesterday opposed to by the Securities and Exchange Commission (SEC). A lawyer, Yele Delano (SAN), who appeared for the oil company at the continue […]
Source: LeadershipNGA - 🏆 4. / 77 Read more »