Oil Price Update: EIA Inventory Drawdowns add to Oil’s Bullish Outlook

  • 📰 DailyFX
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 63%

United States Headlines News

Oil tailwinds accumulate as US crude storage data confirms further drawdowns. Shell had to halt some operations at Europe’s biggest refinery, adding to price pressures

Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. Forex trading involves risk. Losses can exceed deposits.

We recommend that you seek independent advice and ensure you fully understand the risks involved before trading.a registered Introducing Broker with the Commodity Futures Trading Commission and is no longer a Member of the National Futures Association in the U.S. Any and all information provided by FXP is not intended for use by U.S. residents or individuals domiciled in the U.S.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
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:

 /  🏆 305. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

U.S. crude oil, fuel stocks down as exports surge, imports dropU.S. crude oil, fuel stocks down as exports surge, imports drop - EIA
Source: Investingcom - 🏆 450. / 53 Read more »

Goldman raises international oil price forecast to $100 a barrelThe firm believes OPEC's supply cuts will sustain prices in a range between $80 and $105 in 2024.
Source: CNBC - 🏆 12. / 72 Read more »

Oil price will not move past $100 on a sustained basis over the next 12 monthsThe price of Brent Crude has reached $95/bbl, the highest level since November 2022. Economists at UBS analyze Oil’s outlook. Strong fundamentals will
Source: FXStreetNews - 🏆 14. / 72 Read more »

Mike Bloomberg: Shift from oil must be ‘practical,’ praises UAE’s oil leader hosting climate summitMichael Bloomberg, former New York mayor and billionaire philanthropist, on Thursday cautioned against a hasty transition from oil and gas-powered cars in the U.S. to fight climate change.
Source: WashTimes - 🏆 235. / 63 Read more »

EIA reports weekly declines in U.S. crude, gasoline, and distillate stockpilesThe Energy Information Administration on Wednesday reported that U.S. commercial crude inventories fell by 2.1 million barrels for the week ended Sept. 15....
Source: MarketWatch - 🏆 3. / 97 Read more »

EIA reports a weekly increase of 64 billion cubic feet in U.S. natural-gas suppliesThe U.S. Energy Information Administration reported on Thursday that U.S. natural-gas supplies in storage rose by 64 billion cubic feet for the week ended...
Source: MarketWatch - 🏆 3. / 97 Read more »