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Oil prices decline despite prospects for stronger global economic outlook

By Ahmad Ghaddar LONDON (Reuters) - Oil prices eased on Wednesday despite prospects for stronger global economic growth as talks to revive a nuclear deal with Iran opens the possibility of an easing of sanctions on its oil exports. Brent crude futures fell by 36 cents, or 0.6%, to $62.38 a barrel by 0843 GMT while U.S. West Texas Intermediate crude was down 36 cents, or 0.6%, at $58.97. Prices were trading in positive territory earlier in the session, buoyed by improving economic data. Optimism on the global economic outlook boosted sentiment in the crude oil market, analysts from ANZ bank said. The International Monetary Fund on Tuesday said that unprecedented public spending to fight COVID-19 would push global growth to 6% this year, a rate not achieved since the 1970s.

United statesCity ofUnited kingdomStephen brennockDavid goodmanJessica jaganathanAhmad ghaddarInternational monetary fund onOrganization of the petroleum exporting countriesAmerican petroleum instituteTexas intermediateInternational monetary fundPetroleum exporting countriesஒன்றுபட்டது மாநிலங்களில்நகரம் ஆஃப்ஒன்றுபட்டது கிஂக்டம்

Oil prices rise on stronger economic outlook, U S stockpile draw | Hellenic Shipping News Worldwide

Oil prices rise on stronger economic outlook, U.S. stockpile draw Oil prices edged higher on Wednesday on the prospects for stronger global economic growth amid increased COVID-19 vaccinations and a report that crude inventories in the United States, the world’s biggest fuel consumer, fell. But optimism about talks between the United States and Iran over Iran’s nuclear programme and an impending increase in supply by major oil producers capped gains. Brent crude futures for June rose by 16 cents, or 0.3%, to $62.90 a barrel by 0657 GMT while U.S. West Texas Intermediate crude for May was up 14 cents, or 0.2%, to $59.47.

United statesChristian schmollingerEdward moyaJessica jaganathanJoe bidenEnergy information administrationInternational monetary fundOrganization of the petroleum exporting countriesAmerican petroleum instituteTexas intermediatePetroleum exporting countriesஒன்றுபட்டது மாநிலங்களில்எட்வர்ட் மொயாஜெசிகா ஜெகநாதன்ஓஹோ பிடென்சர்வதேச பண நிதி

Oil prices gain on prospects of faster economic recovery

Oil prices gain on prospects of faster economic recovery
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United statesEdward moyaJoe bidenOrganization of the petroleum exporting countriesAmerican petroleum instituteTexas intermediatePetroleum exporting countriesஒன்றுபட்டது மாநிலங்களில்எட்வர்ட் மொயாஓஹோ பிடென்ஆர்கநைஸேஶந் ஆஃப் தி பெட்ரோலியம் ஏற்றுமதி நாடுகள்அமெரிக்கன் பெட்ரோலியம் நிறுவனம்டெக்சாஸ் இடைநிலைபெட்ரோலியம் ஏற்றுமதி நாடுகள்

Brent to Average $65 in 2Q, Retreat to $61 in Second Half of 2021, EIA Says

Brent to Average $65 in 2Q, Retreat to $61 in Second Half of 2021, EIA Says
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Saudi arabiaUnited statesTerm energy outlookOrganization of the petroleum exporting countriesUs energy information administrationInformation administrationShort term energy outlookPetroleum exporting countriesWest texas intermediateHenry hubசவுதி அரேபியாஒன்றுபட்டது மாநிலங்களில்கால ஆற்றல் ஔட்‌லுக்ஆர்கநைஸேஶந் ஆஃப் தி பெட்ரோலியம் ஏற்றுமதி நாடுகள்குறுகிய கால ஆற்றல் ஔட்‌லுக்பெட்ரோலியம் ஏற்றுமதி நாடுகள்

Crude Inventories Decline Even as Overall Demand Sputters, EIA Says

Crude Inventories Decline Even as Overall Demand Sputters, EIA Says U.S. oil inventories shrunk for a second consecutive week despite a demand drop amid a gradual recovery in economic activity and mixed coronavirus vaccine rollouts. In its Weekly Petroleum Status Report (WPSR), the U.S. Energy Information Administration (EIA) said Wednesday crude inventories for the week ended April 2 excluding those in the Strategic Petroleum Reserve decreased by 3.5 million bbl from the previous week. At 498.3 million bbl, U.S. stocks held 2% above the five-year average. U.S. crude production averaged 10.9 million b/d last week, down 200,000 b/d from the prior week and 2.2 million b/d below the 2020 peak reached in the March 13 week last year, just prior to the pandemic’s full impact in the Lower 48.

New yorkUnited statesLouise dicksonTerm energy outlookAnalysts at clearview energy partnersOrganization of the petroleum exporting countriesUs energy information administrationStrategic petroleumRystad energyWeekly petroleum status reportInformation administrationStrategic petroleum reserveWinter stormClearview energy partnersPetroleum exporting countriesபுதியது யார்க்