Haberler      English      العربية      Pусский         Kurdî      Türkçe Delivering News and Insights Around the World Keltis
  En.Haberler.Com - Latest News
SEARCH IN NEWS:
  HOME PAGE 23/09/2020 16:14 
06.08.2020 10:57 News >> Oil Prices Up As US Oil Inventories Fall

Oil Prices Up As US Oil Inventories Fall

Weakening dollar index raises oil prices making oil cheaper for foreign exchange holders.

Crude oil prices were up on Thursday following a big fall in US oil inventories and a weakening of the dollar as rising coronavirus cases worldwide keep feeding investors' worries about global demand outlook.
International benchmark Brent crude was trading at $45.47 per barrel at 0942 GMT for a 0.06% increase after closing Wednesday at $45.44 a barrel.
American benchmark West Texas Intermediate (WTI) was at $41.73 a barrel at the same time for a 1.13% decline after ending the previous session at $42.21 per barrel.
Commercial crude oil inventories in the US fell by 7.4 million barrels, or 1.4%, to 518.6 million barrels for the week ending July 31, the data showed. The market expectation was a decrease of 3 million barrels.
A weakening dollar, which makes oil relatively cheaper for foreign currency holders, has also boosted rates.
Growing numbers of COVID-19 cases all over the world also appear to suggest that global oil consumption is likely to remain low by 2020.
The number of COVID-19 cases worldwide has now surpassed 18 million, according to the latest data from Johns Hopkins University.
As the US leads the number of cases with almost 4.8 million as of Wednesday morning, Brazil has over 2.8 million, and India follows with more than 1.9 million cases. -



        Latest News
Black Sea Gas Production To Cost Cheaper Than Imports -25 minutes ago...
Turkey aims to connect discovered gas to national gas transmission network by 2023, energy minister says.
Top Afghan Negotiator Seeks 'Middle Ground' In Peace Parley -25 minutes ago...
Government’s negotiation process with Taliban is going to be ‘long, complicated,’ Abdullah Abdullah tells Anadolu Agency.
Eiffel Tower Bomb Threat Turns Out False Alarm -25 minutes ago...
Historical landmark reopens to visit with security measures.
Johnson & Johnson Initiates Phase 3 Trial For COVID-19 -25 minutes ago...
Vaccine trial to enroll 60,000 volunteers across 3 continents, while firm aims to provide 1B doses each year.
Breaking Taboo, Thai Youth Calls For Monarchy Reforms -25 minutes ago...
Under 'lese majeste' law, king protected from insults, criticism.

 
      Top News
COVID-19 Deaths In South Africa Surpass 16,000 COVID-19 Deaths In South Africa Surpass 16,000
West Ham United Reports 3 Coronavirus Cases West Ham United Reports 3 Coronavirus Cases
Greece: Exploratory Talks With Turkey To Start Soon Greece: Exploratory Talks With Turkey To Start Soon
Trump To Announce Supreme Court Nominee Saturday Trump To Announce Supreme Court Nominee Saturday
Powerful Blast Rocks Southern Lebanon Powerful Blast Rocks Southern Lebanon
What Do The Abraham Accords Entail For The Middle East And North Africa? What Do The Abraham Accords Entail For The Middle East And North Africa?
India's COVID-19 Caseload Tops 5.5M India's COVID-19 Caseload Tops 5.5M
'Turkish, German Leaders To Hold Meeting Shortly' 'Turkish, German Leaders To Hold Meeting Shortly'
Saudi Arabia Reports Over 490 New Virus Cases Saudi Arabia Reports Over 490 New Virus Cases
US Sanctioning Iran's Defense Dept, Venezuelan Leader US Sanctioning Iran's Defense Dept, Venezuelan Leader