{"id":12108,"date":"2021-07-09T21:00:51","date_gmt":"2021-07-10T01:00:51","guid":{"rendered":"https:\/\/www.comtechadvisory.com\/blog\/oil-prices-rise-over-1-as-u-s-inventories-decline\/"},"modified":"2021-07-09T21:00:51","modified_gmt":"2021-07-10T01:00:51","slug":"oil-prices-rise-over-1-as-u-s-inventories-decline","status":"publish","type":"post","link":"https:\/\/www.comtechadvisory.com\/blog\/oil-prices-rise-over-1-as-u-s-inventories-decline\/","title":{"rendered":"Oil prices rise over $1 as U.S. inventories decline"},"content":{"rendered":"
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LONDON, July 9 (Reuters) by Noah Browning \u2013 Oil prices rose for a second day on Friday as data showed a draw in U.S. inventories but were heading for a weekly loss amid uncertainty over global supplies after an OPEC+ impasse. Brent crude oil futures were up $1.19, or 1.6%, at $75.31 a barrel by 1355 GMT. U.S. West Texas Intermediate futures were up $1.41, or 1.9%, at $74.35. Prices on both sides of the Atlantic were on track for around a 1% weekly drop, dragged down by the collapse of output talks between the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, together known as OPEC+.\u00a0read more U.S. crude and gasoline stocks fell and gasoline demand reached its highest since 2019, the U.S. Energy Information Administration said on Thursday, signalling increasing strength in the economy.\u00a0read more \u201cA bullish EIA stock report helped the oil market rebound into the black,\u201d said Stephen Brennock of oil broker PVM. \u201cClearly, U.S. oil markets are tight. However \u2026 the only way to prevent further losses is for the threat of an OPEC+ price war to be contained,\u201d he added. Gains in oil prices were capped by worries that members of… continue reading<\/a><\/p>\n

Continue reading Oil prices rise over $1 as U.S. inventories decline<\/a>. This article appeared first on CTRM Center<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

LONDON, July 9 (Reuters) by Noah Browning \u2013 Oil prices rose for a second day on Friday as data showed a draw in U.S. inventories but were heading for a weekly loss amid uncertainty over global supplies after an OPEC+ impasse. Brent crude oil futures were up $1.19, or 1.6%, at $75.31 a barrel by 1355 GMT. U.S. West Texas Intermediate futures were up $1.41, or 1.9%, at $74.35. Prices on both sides of the Atlantic were on track for around a 1% weekly drop, dragged down by the collapse of output talks between the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, together known as OPEC+.\u00a0read more U.S. crude and gasoline stocks fell and gasoline demand reached its highest since 2019, the U.S. Energy Information Administration said on Thursday, signalling increasing strength in the economy.\u00a0read more \u201cA bullish EIA stock report helped the oil market rebound into the black,\u201d said Stephen Brennock of oil broker PVM. \u201cClearly, U.S. oil markets are tight. However \u2026 the only way to prevent further losses is for the threat of an OPEC+ price war to be contained,\u201d he added. Gains in oil prices were capped by worries that members of… … continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[],"acf":[],"yoast_head":"\nOil prices rise over $1 as U.S. inventories decline | Commodity Technology Advisory<\/title>\n<meta name=\"description\" content=\"LONDON, July 9 (Reuters) by Noah Browning \u2013 Oil prices rose for a second day on Friday as data showed a draw in U.S. inventories but were heading for a\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.comtechadvisory.com\/blog\/oil-prices-rise-over-1-as-u-s-inventories-decline\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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