Kuwaiti crude oil dropped USD 1.14 to settle at USD 106.14 per barrel (pb) on Wednesday, compared to USD 107.28 pb the day before, said Kuwait Petroleum Corporation (KPC) on Thursday. An initial report by the American Petroleum Institute showed an increase in the US oil reserves which has negatively affected oil prices in world markets. In addition, the US Energy Information Administration (EIA) weekly petroleum analysis showed an increase in the US commercial crude oil inventories by 2.7 million barrels during the week ending March 29. This increase caused oil prices to drop due to fears that oil demands from the world's biggest oil consumer, the US, might decrease. In the New York Mercantile Exchange (NYMEX), prices of the US crude oil for May delivery hit their highest at USD 96.66 pb and their lowest at USD 96.96 pb.
GMT 18:55 2018 Friday ,14 December
Libya’s National Oil against paying ‘ransom’ to reopen El Sharara fieldGMT 22:21 2018 Thursday ,13 December
Turkey starts building land part of Turkish Stream pipelineGMT 13:35 2018 Sunday ,09 December
OPEC+ deal to ensure stability of oil price, that is positive for RussiaGMT 14:30 2018 Friday ,07 December
Major oil producers haggle over production cutGMT 13:29 2018 Thursday ,06 December
Major oil exporters mull supply cut amid internal rifts, US demandsGMT 09:30 2018 Monday ,03 December
Qatar says it is withdrawing from OPEC on January 1GMT 21:01 2018 Sunday ,25 November
Oil prices plummet amid U.S. drilling rigs downGMT 17:32 2018 Friday ,16 November
OPEC Basket Price Stood, at over $65.2, on ThursdayMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor