Oil prices remained relatively stable on Thursday, with Brent crude futures settling unchanged at $82.96 per barrel.
Tags: Oil
Oil Prices Drop Below $80 After US Oil and Petroleum Reserve Reach Highest Level
US crude inventories reaching record highs led to further declines in oil prices, with West Texas Intermediate dropping below $80 per barrel, surprising traders and reducing investor confidence.
Middle East Conflict Could Push Oil Prices to the Top and Drive Global Inflation, Says World Bank
The World Bank warns that escalating conflicts in the Middle East could push oil prices over $100 a barrel, potentially increasing the recent decline in global inflation and worsening economic challenges worldwide.
US Banks to Increase Loans to Oil and Gas Companies as Europeans Reduce Theirs Over Climate Change Concerns
U.S. regional banks are filling the lending gap for oil, gas, and coal companies left by European lenders amid climate concerns, with banks like Citizens Financial Group Inc., BOK Financial Corp., and Truist Securities Inc. increasing fossil-fuel loans.
Ukraine Drone Attacks Leave Several Russian Diesel Fuel Stranded at Sea
Russian diesel fuel stranded at the sea was attributed to mostly Ukraine drone attacks on their oil refineries and heightened sanctions.
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Oil prices fell further as the dollar rose on market predictions that inflation will delay US interest rate reductions that have limited global fuel demand growth.
Oil prices surged over 3% on Wednesday following a warning from the US regarding Houthi militants' activities in the Red Sea.
The United States has successfully finalized contracts to buy three million barrels of oil to help replenish the Strategic Petroleum Reserve (SPR) following last year's record-setting sale, the US Department of Energy disclosed.
The il and gas industry had slowly rising under Trump's winning as the next President of the United States.
Glencore and Qatar takes $11 billion stake in state-run oil producer Rosneft. Russian President Vladimir Putin personally announced the deal which is expected to close mid-December.
For the first time after after two years, the oil and gas investment in the U.S is slowly getting higher.
The Oklahoma Geological Survey said that market conditions have cutbacks from oil and natural gas production.
No good profit is expected for the oil investment in 2017. Oil production investment is expected to likely to fall for a third year in 2017 as a global supply glut persists, stoking volatility in crude markets, the head of the International Energy Agency (IEA) said on Thursday.
For the first time need to withdraw cash sovereign wealth fund as western Europe's bigget oil exporter.
