93481
Oil Prices Rise as US Stockpiles Dip
Oil Prices Rise as US Stockpiles Dip

Oil Prices Rise as US Stockpiles Dip

Oil Prices Rise as US Stockpiles Dip

Oil prices rose on Wednesday after a report of a decline in US crude inventories and looming sanctions against Iran raised expectations of tightening supply, while top producer Russia warned of a fragile global market. US West Texas Intermediate crude futures CLc1 were at $69.93 per barrel, up 68 cents, or 1%, from their last settlement. WTI futures gained 2.5% in the previous session, CNBC reported. Brent crude futures LCOc1 climbed 30 cents, or 0.4%, to $79.36 a barrel. Brent has climbed for four straight sessions, gaining 2.2% the previous day. “Oil prices jumped overnight as American Petroleum Institute inventory data showed a large drawdown in inventories,” said William O’Loughlin of Australia’s Rivkin Securities. US crude stocks fell by 8.6 million barrels in the week to Sept. 7 to 395.9 million, the American Petroleum Institute said on Tuesday.

Short URL : https://goo.gl/LMiJu2
  1. https://goo.gl/zX7g3S
  • https://goo.gl/LzWZrg
  • https://goo.gl/AtWdxs
  • https://goo.gl/3wWvhi
  • https://goo.gl/QHywxR

You can also read ...

Asia Buyers of Iran Oil Hopeful of US Waivers
Asian buyers of Iranian oil are gaining confidence they will...
1 Million Smart Meters for Energy-Intensive Consumers in Iran
One million energy-intensive households and commercial units...
Poland Signs 20-Year LNG Deal With US Co.
Poland’s main gas firm PGNiG has signed a 20-year agreement...
Iran: 7 Combined-Cycle Power Plants Ready for Launch in June
Work is in progress to develop new phases in combined-cycle...
Iran Oil Co. Chief Calls for Buying Stake in Foreign Refineries
Talks are underway to buy shares in refineries of other...
Iran's SIPIEM Inviting Foreign SMEs in Energy Sector
The Society of Iranian Petroleum Industry Equipment...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus