The EIA report provided significant support to oil markets.
Ed Morse, Citi's global head of commodities, joins 'Squawk on the Street' to discuss the outlook for oil prices in the second half of the year, oil demand growth related to China's reopening, and the
U.S. crude stocks drew more than expected on strong refining demand, while gasoline inventories posted a large draw after an increase in driving last week, the Energy Information Administration said o
The crude oil markets have been somewhat stagnant during the trading session on Thursday, as it looks like the 50-Day EMA is going to cause resistance yet again.
Top oil exporter Saudi Arabia has raised the prices for most its crude oil to Asian customers in August for a second month, following its announcement of prolonging an extra output cut on top of a bro

Oil prices edge higher as traders eye inventories

07:50am, Thursday, 06'th Jul 2023
Oil futures edged higher Thursday, finding support as investors weighed industry data that showed a drop in U.S. crude inventories ahead of an official reading.
Sluggish Chinese demand, caused by slow services activity expansion, overshadow Saudi supply curb, causing WTI crude oil prices to slip.
Oil prices moved little in early Asian trade on Thursday as the prospect of tighter supply with output cuts from Saudi Arabia and Russia and a bigger-than-expected drop in U.S. crude stocks were offse

Oil Futures Rise in Wake of OPEC+ Cuts

08:48pm, Wednesday, 05'th Jul 2023
US oil prices still holding onto gains as traders weigh the impact of additional production cuts announced earlier this week by Saudi Arabia and Russia. Su Keenan reports on Bloomberg Television.
Oil futures settle higher on Wednesday, as reported comments from Saudi Arabia at an Organization of the Petroleum Exporting Countries seminar raised the potential for tighter crude supplies. Saudi En
(Kitco News) - Further production cuts from Saudi Arabia and Russia are providing some momentum for oil prices, which in turn, is supporting the gold market; however, oil prices will have to go much h
Traders focus on U.S. holiday demand and prepare for tomorrow's EIA crude inventories data.
Russia and Saudi Arabia announced an extension to cuts in oil production on Wednesday, but prices for crude oil dropped 1% despite the move, analysts say.
The crude oil market has rallied a bit during the trading session on Wednesday, as traders have returned from the Independence Day holiday in the United States.
Saudi oil cuts from April and July will impact inventories, IEF Secretary General Joe McMonigle tells CNBC's Dan Murphy at the OPEC seminar in Vienna.
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