A large built-in gasoline inventory that offset a modest draw of crude oil inventories cooled Cool Bulls sentiment in markets Tuesday afternoon The U.S. Petroleum Institute (API) reported Tuesday a 4.264 million-tonne inventory of crude inventory for the week ending August 14 – a near mirror of last week’s sign …
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Oil trade has been on the decline these past few weeks as conflict data pulls prices in different directions. But, according to some, a correction may be underway. Reuters’ John Kemp noted in its weekly column on fund trading that market movers last week were relatively indifferent to oil futures, …
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By Julianne Geiger – 17 Aug 2020, 17:00 CDT US oil giant Chevron Corp (NYSE: CVX) is on the hunt for a new oil investment, and it is looking into the potentially lucrative and unstable area of Iraq. Chevron is mulling over a memorandum of understanding with the Iraqi government …
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Traders continue to worry about the growing number of COVID-19 cases in many parts of the world, including the United States, India and Brazil. The rise in infections in August still has a negative impact on global oil demand. Last week, India reported its fifth consecutive y / y decline …
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The International Energy Agency this week revised its forecast for gasoline and jet fuel for the rest of the year. In seemingly unrelated news, Philips 66 said it is turns a San Francisco refinery in a biodiversity plant. In separate news, Shell said it will permanently shake up a refinery …
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