Oil prices fall after unexpected rise in U.S. crude oil stocks

📆 22/07/2021 08:40:00
📰 Reuters

⏱ Reading Time:
10 sec. here
2 min. at publisher
📊 Quality Score:
News: 7%
Publisher: 97%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Oil prices fell on Thursday after an unexpected rise in U.S. crude oil inventories and as rising COVID-19 infections threaten demand, but prices held on to most of their gains from the previous session on expectations that supplies will remain tight through year-end.

Brent crude fell 32 cents, or 0.4%, to $71.91 a barrel at 0347 GMT, after rising 4.2% in the previous session. U.S. West Texas Intermediate crude fell 27 cents, or 0.4%, to $70.03 a barrel, after rising 4.6% on Wednesday.

"Oil will struggle to recoup all of its losses until the trend of new curbs or restrictions starts to ease across Southeast Asia, Australia, and Europe," he said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

Nobody wants oil anymore

this is terrible news

yeah, maybe 2 cents. still up 33% or more since trump left office DURING A PANDEMIC

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Oil retreats on surprise rise in U.S. stocks, weakening demand outlookOil prices fell on Wednesday after an industry report showed an unexpected build-up in U.S. oil inventories last week, which heightened worries about a resurgence in COVID-19 infections potentially dampening fuel demand. nice
Source: Reuters - 🏆 2. / 97 Read more »

The Oil and Gas Industry Produces Radioactive Waste. Lots of ItA new report from the Natural Resources Defense Council confirms Rolling Stone‘s bombshell investigation into the fossil fuel industry’s waste problem.
Source: RollingStone - 🏆 483. / 51 Read more »