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

US crude gains as stimulus to continue

US crude ended slightly higher overnight, as US Treasury Secretary Steven Mnuchin said he supported extending certain measures intended to bolster the economy, while Brent ended lower on concerns that output cuts might not be sufficient. Oil has rallied for several...
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 falls despite US crude stock drawdown

Oil prices fell about 2 per cent overnight despite the first decline in US crude inventories since January, as the US Federal Reserve chairman stoked demand fears with a warning the economy would take many months to recover from the coronavirus pandemic. Oil had...
Oil rises as refineries offset crude build

Oil gains after crude storage build slows

Oil prices surged more than 10 per cent after US crude stockpiles grew less than expected and gasoline posted a surprise draw, feeding optimism that fuel consumption will recover as some European countries and US state ease coronavirus lockdowns. Crude prices crashed...