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WTI and Brent oil prices see a 0.10% rise amid shrinking U.S. inventories and Chinese economic stimulus, suggesting more upside potential.
Oil prices rose in Asian trading hours on Friday, with global benchmark Brent set for its first weekly increase in three weeks on signs of improving global demand and slowing inflation in top oil cons
Fossil fuel groups have sued the U.S. Bureau of Land Management seeking to block a rule that will raise fees for oil and gas development on federal lands as a part of the U.S. government's broader eff
More than half of the oil sands production from Canada could be impacted if the wildfires in Alberta and British Columbia worsen, Rystad Energy said in a report on Thursday.
Oil markets need additional catalysts to move above the nearest resistance level.
A large wildfire near the major Canadian oil sands city of Fort McMurray did not move closer overnight and is expected to remain subdued on Thursday, the local authority said on Thursday.

Saudi Arabia's Grip on Global Oil

10:50am, Thursday, 16'th May 2024
Paul Sankey of Sankey Research looks ahead to the upcoming OPEC+ meeting and discusses the outlook for the global energy market with the US continuing to exhibit what he calls a "stunning" performance
The U.S. is preparing to prioritize issuing limited licenses to operate in Venezuela to companies with existing oil production and assets over those seeking to enter the sanctioned OPEC nation for the
The crude oil markets have bounced back after selling off again, as the oil markets enter what is typically a very bullish time of year for the markets.
West Texas Intermediate and Brent are flat for the week. The contracts have lost 4% and 5.8%, respectively, for the month.
Oil futures edged lower Thursday, losing ground after a relief rally sparked by data showing a slowdown in key U.S. inflation data ran out of steam.
Slower inflation boosts rate cut hopes, leading to stronger crude oil demand; geopolitical tensions and inventory drawdowns lift prices.
Indonesia expects investments in its oil and gas sector to rise 29% in 2024, the chairman of regulator SKK Migas told Reuters, as it races to ramp up drilling and exploration following the recent exit
US oil inventories fell by 2.5 million barrels, pushing NG prices to $2.4 and oil to $79 amid rising demand.
Oil prices extended gains from the previous session on Thursday on signs of stronger demand in the U.S. where data showed slower inflation than markets expected, strengthening the argument for an inte
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