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Oil prices pass $65 on rising gasoline demand, falling U.S. dollar

Futures in New York climbed above $65 a barrel, while the U.S. currency was trading lower. Gasoline inventories have declined more than 25 million barrels in the last two weeks, while a measure for consumption expanded last week to the highest level since November. ....

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Oil climbs above US$65 on signs of rising U.S. fuel demand

Oil climbs above US$65 on signs of rising U.S. fuel demand
bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.

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Oil price's record climb continues on falling global crude inventories

Oil priceâs record climb continues on falling global crude inventories
By Saket Sundria and Alex Longley on 2/10/2021
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(Bloomberg) Oil rose again to extend the longest run of gains in two years with an industry report showing falling U.S. crude stockpiles the latest sign of tightening globally supplies.
While prices continue to surge, some of the biggest moves in the past day have come at the front of the futures curve. Brentâs nearest timespread has surged a key sign of market tightness while key swaps tied to the physical North Sea market have also increased amid frenzied trading of derivatives late Tuesday. ....

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WTI Rebounds, Shrugging Off Another Big Gasoline Stock Build

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero ....

Jens Pedersen , Danske Bank , ஜென்ஸ் பெடர்‌ஸெந் ,

Oil Extends Longest Rising Streak in Two Years as Stocks Drain

Oil Extends Longest Rally in 2 Years With U.S. Supplies Dropping
Bloomberg
2/10/2021
Andres Guerra Luz
(Bloomberg) Oil futures rose for an eighth straight day in New York as a decline in U.S. crude inventories further highlighted depleting global supplies.
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The rally of about 0.6% extended the longest streak of daily gains since February 2019. A U.S. government report showed domestic oil stockpiles fell by 6.6 million barrels to the lowest since March, though the data also pointed to gasoline supplies rising to the highest since June.
Underpinning crude’s rally, the spread between Brent’s nearest contracts has surged this week in another sign of tightening supplies amid OPEC+ production curbs. Citigroup expects Brent crude to reach $70 a barrel by the end of the year, with the producer group’s output agreement helping erode inventories and demand looking stronger than expected. ....

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