Crude Oil Down After Data Showed Rise In U.S. Crude

Oil Prices

Crude oil yesterday settled down by -4.88% at 4465 after official data showed a sustained rise in U.S. crude and fuel inventories, while the ever-present pandemic clouded the demand outlook. U.S. crude oil, gasoline and distillate stockpiles all rose last week, as refiners boosted output with more facilities coming back online following February’s devastating storms in Texas.

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Crude Oil Down After Data Showed Rise In U.S. Crude via @MasterMindUpdate

Crude Oil Retreats as Stronger US Dollar Eases Foreign Demand – Crude Oil Price Analysis

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On Wednesday U.S. West Texas Intermediate and international-benchmark crude oil futures are trading lower after giving back earlier gains. Since weather concerns in Texas drove the market higher earlier in the session, I suspect that new forecasts calling for a break in the extremely cold conditions may be encouraging investors to book profits.

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Crude Oil Retreats as Stronger US Dollar Eases Foreign Demand – Crude Oil Price Analysis via @MasterMindUpdate

Why Crude Oil Futures Shot Up By 21% In 2021

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This year has brought in enough optimism for the oil market as prices of both Brent as well as WTI has gained by around 20 per cent. MCX oil futures have gained by around 21 percent so far this year. Oil is considered to be the benchmark indicator of growth in the global economy and the price rise clearly reflects this trend.

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Why Crude Oil Futures Shot Up By 21% In 2021 via @MasterMindUpdate

Oil Giant Shell Says Its Oil Production And Carbon Emissions And Have Peaked

live crude oil price in dollar

On Thursday oil major Royal Dutch Shell outlined the details of its near-term and long-term plans to transition to cleaner energy, saying its oil production and total carbon emissions have already peaked. The announcement comes at a time when the oil and gas industry is under immense pressure to dramatically speed up its plans to pivot away from fossil fuels, amid deep concern about the effects of the climate emergency.

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Oil Giant Shell Says Its Oil Production And Carbon Emissions And Have Peaked via @MasterMindUpdate