Oil prices were little changed on Thursday after strong gains in the previous two sessions on expectations for surging fuel demand later this year while major producers maintain supply discipline. Brent crude futures were up 16 cents, or 0.22%, at $71.51 a barrel by 1244 GMT after touching their highest since September 2019 at $71.99. The international benchmark had gained 1.6% on Wednesday. US West Texas Intermediate crude futures rose 14 cents, or 0.20%, to $68.97. Prices rose as high as $69.40, the strongest since October 2018, after gaining 1.5% in the previous session. The consensus among market forecasters, including the Organization of the Petroleum Exporting Countries (OPEC) and its allies within the wider OPEC+ group of producers, is that oil demand will exceed supply in the second half of 2021.
WASHINGTON (dpa-AFX) - Crude oil futures settled roughly flat on Thursday after two successive days of strong gains, as traders reacted to inventory data and weighed energy demand prospects.West
Oil pumping jacks in Russia. (Photographer: Andrey Rudakov/Bloomberg)
Oil & Gas Sector Update - High Oil Good For Oil India, GAIL; May Hit GRM, Marketing Margins: ICICI Securities
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June 03 2021, 3:57 PM
June 03 2021, 3:57 PM
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BQ Blueâs special research section collates quality and in-depth equity and economy research reports from across Indiaâs top brokerages, asset managers and research agencies. These reports offer BloombergQuintâs subscribers an opportunity to expand their understanding of companies, sectors and the economy.