Friday, May 27, 2022
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA
  • CCPA
Oil Market News Today
Advertisement
  • Home
  • Market
    • All
    • Africa
    • Europe
    • Middle East
    • Russia
    • US
    • Venezuela
    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Construction of Dangote oil refinery Africa’s largest nears completion

    Construction of Dangote oil refinery Africa’s largest nears completion

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas
No Result
View All Result
  • Home
  • Market
    • All
    • Africa
    • Europe
    • Middle East
    • Russia
    • US
    • Venezuela
    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Construction of Dangote oil refinery Africa’s largest nears completion

    Construction of Dangote oil refinery Africa’s largest nears completion

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas
No Result
View All Result
Oil Market News Today
No Result
View All Result
Home Production

Oil prices slip on demand fears as U.S. virus cases surge

July 2, 2020
in Production
Oil prices slip on demand fears as U.S. virus cases surge
Share on FacebookShare on Twitter


Latest Oil MArket NewsPosts

New U.S. permit to boost Keystone pipeline oil exports by next year: TC

Nigeria in $1.5 bln oil prepay deal with traders Vitol, Matrix – ET

County in oil-production zone fights stay-at-home order | Fort Worth

MELBOURNE (Reuters) – Oil prices dipped on Thursday after the United States recorded its biggest one-day spike in coronavirus cases and California reimposed some lockdown measures, stoking worries a resurgence in COVID-19 cases will stall a recovery in fuel demand.

FILE PHOTO: Oil rig pumpjacks, also known as thirsty birds, extract crude from the Wilmington Field oil deposits area where Tidelands Oil Production Company operates near Long Beach, California July 30, 2013. REUTERS/David McNew

U.S. West Texas Intermediate (WTI) crude CLc1 futures fell 10 cents, or 0.3%, to $39.72 a barrel at 0148 GMT, trimming a 1.4% rise from Wednesday.

Brent crude LCOc1 futures eased 6 cents, or 0.1%, to $41.97 a barrel, after rising 1.8% in the previous session.

California sharply rolled back efforts to reopen its economy on Wednesday, banning indoor restaurant dining in much of the state, closing bars and beefing up enforcement of social distancing and other measures as COVID-19 infections surged.

Analysts highlighted worries about the spike in cases in heavily populated U.S. sun belt states, which are among the country’s biggest consumers of gasoline.

New U.S. COVID-19 cases rose by nearly 50,000 on Wednesday, according to a Reuters tally, in the biggest one-day spike since the start of the pandemic. More than half the new cases each day are in Arizona, California, Florida and Texas.

Oil prices rose in the previous session after U.S. Energy Information Administration data showed U.S. crude inventories USOILC=ECI fell 7.2 million barrels from a record high last week, far more than analysts had expected, as refiners ramped up production and imports eased.

However, analysts noted the data also showed gasoline stockpiles rose due to a sharp increase in imports, against expectations for inventories to fall.

“Counter-seasonal builds in gasoline inventories as stockpiles unexpectedly rose are not precisely a bullish delight,” AxiCorp strategist Stephen Innes said in a note.

“The EIA data showed that gasoline imports hit the highest level since last August and peaked the most on a seasonal basis in nine years.”

All eyes will be on driving activity in the United States over the upcoming July 4th holiday weekend and how quickly U.S. producers revive shut-in production, analysts said.

Reporting by Sonali Paul; Editing by Richard Pullin

Our Standards:The Thomson Reuters Trust Principles.



Read More: Oil prices slip on demand fears as U.S. virus cases surge

Tags: casesCommodities News (3rd Party)crude oilDEMANDEnergy (Legacy)Energy MarketsEuropefearsFinancials (Legacy)GlobalMarket ReportsMiddle EastoilpricesRefined ProductsReportsslipSurgeUKUnited KingdomUnited StatesvirusWestern Europe

Related Posts

New U.S. permit to boost Keystone pipeline oil exports by next year: TC
Production

New U.S. permit to boost Keystone pipeline oil exports by next year: TC

by Oil Market
July 31, 2020
0

The CEO of TC Energy Corporation says the company will begin moving more oil from Western Canada into the...

Read more
Nigeria in $1.5 bln oil prepay deal with traders Vitol, Matrix – ET
Production

Nigeria in $1.5 bln oil prepay deal with traders Vitol, Matrix – ET

by Oil Market
July 29, 2020
0

LAGOS/LONDON: Nigeria's state oil firm NNPC has signed a $1.5 billion prepayment deal led by Standard Chartered and backed...

Read more
County in oil-production zone fights stay-at-home order | Fort Worth
Production

County in oil-production zone fights stay-at-home order | Fort Worth

by Oil Market
July 29, 2020
0

SANTA FE, N.M. (AP) — A county in New Mexico’s southeastern oil production region is backing a legal challenge...

Read more
Shetland oil pioneer enjoys production boost following challenging period
Production

Shetland oil pioneer enjoys production boost following challenging period

by Oil Market
July 28, 2020
0

HURRICANE Energy has received a boost following a difficult period after increasing production from a big field off Shetland....

Read more
Australia’s Karoon soars after striking new oil field deal terms
Production

Australia’s Karoon soars after striking new oil field deal terms

by Oil Market
July 27, 2020
0

Karoon's share price surged more than 15 per cent following the news to 77¢ in early trading on Monday.Loading"Despite...

Read more
Analysis | The Next Move in Oil Prices May Be Down, Not Up
Production

Analysis | The Next Move in Oil Prices May Be Down, Not Up

by Oil Market
July 26, 2020
0

The group of 23 oil producing countries, led by Saudi Arabia and Russia, confirmed they would reduce the size...

Read more
Next Post
Israel’s Delek Swings to Big Loss on North Sea Business Impairment

Israel's Delek Swings to Big Loss on North Sea Business Impairment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Today Oil Markets

Why COVID-19 Won’t Completely Crush Brazil’s Oil Boom | OilPrice.com

Why COVID-19 Won’t Completely Crush Brazil’s Oil Boom | OilPrice.com

2 years ago
Google plans to stop making A.I. tools for oil and gas firms

Google plans to stop making A.I. tools for oil and gas firms

2 years ago
Saudis Gained Nothing in First Month After Ending Oil-Price War

Saudis Gained Nothing in First Month After Ending Oil-Price War

2 years ago
Rose Oil Market Current Scenario; Who will Surpass 2027

Rose Oil Market Current Scenario; Who will Surpass 2027

2 years ago
Oil prices continue their rise, albeit slowly, since April’s crash

Oil prices continue their rise, albeit slowly, since April’s crash

2 years ago
The Ballad of Bantry Bay: how this Irish oil terminal took centre stage

The Ballad of Bantry Bay: how this Irish oil terminal took centre stage

2 years ago

Oil Market

Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Construction of Dangote oil refinery Africa’s largest nears completion

Construction of Dangote oil refinery Africa’s largest nears completion

July 31, 2020

Russia Oil Market

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
CORONAVIRUS (COVID-19) IMPACT ON Sandalwood Essential Oil Market OUTLOOK,

CORONAVIRUS (COVID-19) IMPACT ON Sandalwood Essential Oil Market OUTLOOK,

July 29, 2020
Gas, Oil and Dual-fuel Burners Market Size 2020, Global Industry Trends,

Gas, Oil and Dual-fuel Burners Market Size 2020, Global Industry Trends,

July 28, 2020

Europe Oil Market

Oil rises further from 3-week lows, but headwinds loom amid pandemic

Oil rises further from 3-week lows, but headwinds loom amid pandemic

July 31, 2020
Shell posts $18billion loss in second quarter – News for the Oil and Gas

Shell posts $18billion loss in second quarter – News for the Oil and Gas

July 30, 2020
Path to net zero: European oil majors outpace US companies on climate goals

Path to net zero: European oil majors outpace US companies on climate goals

July 29, 2020
Oil price holds near four-month high amid bearish signals – News for the

Oil price holds near four-month high amid bearish signals – News for the

July 28, 2020
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA
  • CCPA

© 2020 MarketFor Oil.com

No Result
View All Result
  • Home
  • Market
    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas

© 2020 MarketFor Oil.com