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Oil prices are rising, Brent is trading above 60 dollar

2019-08-21 07:49 am | Resource: News | No Views : 30

Oil prices are rising, Brent is trading above  60 dollar

Oil prices rose on Wednesday after private data revealed a larger-than-expected drop in US crude inventories. Crude oil is reported to have dropped by 3.5 million barrels in the seven days to August 16, while reserves at the Cushing, Oklahoma Industry Center have dropped by 2.8 million barrels.

The American Petroleum Institute shows a sudden decline in US oil inventories

Oil futures were unchanged on Tuesday, after slight gains for the day, as traders learned from the media that the weekly report of the American Petroleum Institute showed a sudden drop in inventories in the United States. Crude oil is said to have shrunk by 3.5 million barrels in the seven days to Aug. 16, while reserves at the industry center in Cushing, Oklahoma have dropped by 2.8 million barrels.

The downward impact on prices was less than the alleged decline of 400,000 barrels in the amount of gasoline stored and mitigated by an increase in the distillate category of 1.8 million barrels.

Iranian tanker Adrian Daraya leased to Iran's Revolutionary Guards - report

 Iranian tanker Adrian Daraya, known as Grace 1 until it was launched from Gibraltar, has been leased to Iran's Revolutionary Guards Corps, the official IRNA news agency reported Wednesday. The agency said in a report that the tanker was built in Korea, but owned by Russia and "currently leased to the Iranian Revolutionary Guards."

The tanker was launched from Gibraltar on Monday after Iran assured authorities that the ship would not supply Syria with oil. Grace 1 was seized earlier because the UK and US said the tanker was violating sanctions against Syria. After the release, the United States issued a seizure order.

Oil Trading
  • WTI crude oil futures for October rose 0.37% to $ 56.34 a barrel at 2:24 am EST
  • Brent crude futures for the same month jumped 0.57% at 2:29 am EDT, holding $ 60.39 a barrel.

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Best Opportunities, Vision and Technical Analysis for The Oil 17 April 2019

(CURDE OIL - WTI ) We offer you oil analysis denominated by US dollar on Wednesday, April 17, 2019, with the most important forecast for the price of oil denominated by US dollars in the market. Time frame Used - four hours Oil is moving in a sideway direction in the near term. The purchasing power managed to push oil higher to close at the end of trading today, rising…

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