2020-08-12 14:20:00
OIL PRICE: ABOVE $45 ANEW
REUTERS - AUGUST 12, 2020 - Oil prices rose on Wednesday after an industry report showed U.S. crude inventories last week fell more than analysts had expected, bolstering hopes that fuel demand in the world's biggest economy can weather the coronavirus pandemic.
Brent crude LCOc1 was up 67 cents, or 1.5%, at $45.17 a barrel by 1012 GMT, after falling around 1% on Tuesday.
West Texas Intermediate CLc1 oil was up 65 cents, or 1.6%, at $42.26 a barrel, having dropped 0.8% in the previous session.
The American Petroleum Institute said on Tuesday that crude stocks fell by 4 million barrels last week, versus analysts' expectations in a Reuters poll for a draw of 2.9 million barrels.
It also showed falls in gasoline and distillate stocks. Official government data is due later on Wednesday.
The "fall in U.S. API crude inventories..., the third sizeable weekly fall in a row, has supported prices today," said Jeffrey Halley, senior market analyst at OANDA.
A downward revision to a key U.S. oil production forecast for this year also lent support to prices.
The U.S. Energy Information Administration now expects U.S. crude production to fall by 990,000 barrels per day (bpd) this year to 11.26 million bpd, steeper than the 600,000 bpd decline it forecast last month.
Still, growing uncertainty over a stalemate in Washington in talks for a stimulus package to support recovery from the deepest impact of the pandemic may weigh on prices looking ahead.
In India, refined fuels consumption fell to 15.68 million tonnes in July, down 11.7% year-on-year and 3.5% below June's levels, data from the Petroleum Planning and Analysis Cell (PPAC) of the Ministry of Petroleum & Natural Gas showed.
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Earlier:
2020, August, 11, 14:05:00
OIL PRICE: ABOVE $45
Brent added 29 cents, or 0.6%, to $45.28 a barrel , WTI rose 38 cents, or 0.9%, to $42.32 a barrel.
2020, August, 10, 11:35:00
OIL PRICE: NEAR $45 AGAIN
Brent rose 34 cents, or 0.8%, to $44.74 a barrel , WTI were up 47 cents, or 1.1%, to $41.69 a barrel.
2020, August, 7, 13:55:00
OIL PRICE: NEAR $45 YET
Brent fell 31 cents, or 0.7%, to $44.78, WTI slipped 39 cents, or 0.9%, to $41.56.
2020, August, 6, 12:10:00
OIL PRICE: NEAR $45 ANEW
Brent fell 7 cents to $45.10 a barrel, WTI was down 25 cents at $41.94.
2020, August, 5, 12:15:00
OIL PRICE: NEAR $45
Brent was up 44 cents, or 1%, at $44.87 a barrel, WTI rose 43 cents, or 1%, to $42.13 a barrel.
2020, August, 4, 14:45:00
OIL PRICE: ABOVE $43 TOO
Brent were 72 cents, or 1.7%, lower at $43.43 a barrel, WTI were down 68 cents, or 1.7%, at $40.33 a barrel
2020, August, 4, 14:40:00
ЦЕНА URALS: $40,34
Средняя цена на нефть марки Urals в январе-июле 2020 года сложилась в размере $ 40,34 за баррель
