Oil rises as refineries offset crude build

Oil rises as refineries offset crude build

Oil futures rose about 2 per cent overnight as a steady improvement in US refining activity offset a surprise build in crude and diesel inventories. Brent for July rose 55 cents, or 1.6 per cent, to settle at $US35.29 a barrel on its second to last day as the...
Oil rises as refineries offset crude build

Oil rises on lower US stocks, more demand

Oil prices rallied overnight after US crude inventories fell in the most recent week, but gains were capped by worries over the economic fallout from the coronavirus pandemic and weak refining margins. Oil futures have staged a recovery from recent weakness as...
Oil rises as refineries offset crude build

Wall St rises as investors eye recovery

Wall Street’s main indexes have surged and the Nasdaq has hit a three-month high as investors clung to hopes of a recovery from a coronavirus-fuelled slump amid signs of more stimulus for ailing sectors. The tech-heavy index, now about 5.0 per cent below its...
Oil rises as refineries offset crude build

Oil rises on dip in US crude stockpiles

Oil prices settled higher overnight after the International Energy Agency (IEA) forecast lower global stockpiles in the second half of 2020, although worries remain that a second surge in coronavirus infections could occur in coming months. Crude prices have ticked up...
Oil rises as refineries offset crude build

Oil rises; OPEC looks to cut supply

Oil prices rose overnight after OPEC’s de facto leader, Saudi Arabia, said it would increase supply curbs in June, while other members of the oil-producing group said they want to extend the deep cuts reached in April for a longer period than originally agreed....