Environmental Group Says Tighter Radiation Controls Of Drilling Waste Needed wesa.fm - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wesa.fm Daily Mail and Mail on Sunday newspapers.
Oil rebounds as market seizes on discounted prices Toggle share menu
Advertisement
Oil rebounds as market seizes on discounted prices NEW YORK :Crude oil futures rebounded on Tuesday as market participants vied to take advantage of oil s two-month low touched in the previous session.
FILE PHOTO: A closed petrol pump is seen in Chuquiaguillo, on the outskirts of La Paz, Bolivia, November 17, 2019. REUTERS/David Mercado
20 Jul 2021 10:45AM (Updated:
21 Jul 2021 05:35AM) Share this content
Bookmark
NEW YORK -Crude oil futures rebounded on Tuesday as market participants vied to take advantage of oil s two-month low touched in the previous session.
Monday s selloff, spurred by demand destruction fears amid rising COVID-19 cases, pushed oil about 7per cent lower and hit other riskier assets. The oil market was also lower on news that the Organization of the Petroleum Exporting Countries and allies, known as O
Ahmad Ghaddar
1/3
A VLCC oil tanker is seen at a crude oil terminal in Ningbo Zhoushan port, Zhejiang province, China May 16, 2017. Picture taken May 16, 2017. REUTERS/Stringer/File Photo
Read More
LONDON, July 21 (Reuters) - Oil prices rose on Wednesday, extending gains from the previous session as improved risk appetite provided support despitedata showing an unexpected rise in U.S. oil inventories last week and a weaker demand outlook due to rising COVID-19 infections.
Brent crude futures gained 84 cents, or 1.2%, to $70.19 a barrel at 0840 GMT, having hit a session low of $68.63 a barrel.
U.S. West Texas Intermediate (WTI) crude futures rose by 84 cents, or 1.3%, to $68.04 a barrel, after falling to $66.44 a barrel earlier on Wednesday.
By Sonali Paul MELBOURNE (Reuters) - Oil prices fell on Wednesday after an industry report showed an unexpected build-up in U.S. oil inventories last week, which heightened worries about a resurgence in COVID-19 infections potentially dampening fuel demand. U.S. West Texas Intermediate (WTI) crude futures dropped 35 cents, or 0.5%, to $66.85 a barrel at 0153 GMT, after rising $1 on Tuesday. Brent crude futures fell 32 cents, or 0.5%, to $69.03 a barrel, giving up some of Tuesday s 1.1% gain. The market has come under a bit of downward pressure in early morning trading today after a bearish and rather surprising inventory report from the API, ING Economics analysts said in a note referring to weekly figures from the American Petroleum Institute.
Oil retreats on surprise rise in US stocks, weakening demand outlook arabnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from arabnews.com Daily Mail and Mail on Sunday newspapers.