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Oil Headed for 3rd Weekly Gain on Supply Concerns

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Reuters |
Oil prices eased about 1% on Friday as traders worried that Washington's tariff wars could spark a global recession, but for the week, prices were headed for their third weekly gain as the U.S. ramped...
Fox News |
The revenues will be divided between the feds and each particular state where the leases were sold.

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Oil prices drop 1% on trade war worries but post 3rd weekly gain
Oil prices eased about 1% on Friday as traders worried that Washington's tariff wars could spark a global recession, but for the week, prices were headed for their third weekly gain as the U.S. ramped up pressure on Venezuela and Iran.
Oil Poised for Third Weekly Gain Ahead of Trump’s Tariffs
Oil headed for a third weekly advance as the market braces for more tariffs from the Trump administration. Brent traded near $74 a barrel after closing 0.3% higher on Thursday, wh
Oil Headed for Third Weekly Gain on Supply Concerns
Oil prices slid but were headed for a third consecutive weekly gain as markets weighed the impact of global trade tensions against a tightening supply outlook.
Trump admin’s first oil and gas-lease sales nets nearly $40 million for U.S. coffers
Interior Secretary Doug Burgum lauded millions in federal windfall from sales of oil and gas leases in Trump's first three months.
Key gas project with Venezuela not slowing down despite US pressure, Trinidad says
Companies planning a flagship offshore gas project between Venezuela and Trinidad and Tobago "have not slowed down" work, Trinidad Prime Minister Stuart Young said on Thursday, despite the United States increasing pressure on sanctioned Venezuela and uncertainty over the extension of a license for the project.
Oil approaches one-month highs as investors assess supply, trade war risks
Oil prices edged higher on Thursday as traders assessed a tightening of crude supplies along with new U.S. tariffs and their expected effect on the world's economy.
U.S. Crude Oil Inventories Post Unexpected Decline
Oil supplies fell by 3.3 million barrels to 433.6 million in the week ended March 21, below analysts expectations that inventories would rise by 1 million barrels.
US Crude Stockpiles Fall as Refining Continues to Rise, EIA Says
NEW YORK (Reuters) -U.S. crude oil inventories fell last week as refiners continued to ramp up production, while gasoline and distillate stockpiles also dropped, the Energy Information Administration said on Wednesday.
Unexpected drop in EIA crude oil inventories signals bullish trend for crude prices
In conclusion, the EIA’s latest report on Crude Oil Inventories has defied expectations with a substantial drop in inventory levels. This unexpected decrease signals a bullish trend for crude prices, suggesting a stronger demand for crude oil than previously anticipated.
Hays Post3d
News from the Oil Patch: Crude stockpiles rise despite import drop
Crude stockpiles rise, while fuel inventories drop. Commercial crude inventories rose by 1.7 million barrels to 437 million, or about five percent below the five year average. Stockpiles of regular gasoline and diesel were both lower. Gasoline demand was unchanged from a week ago, while diesel demand dropped.
Rigzone2d
NSTA Expects UK Crude Oil Output to Continue Dropping in 2025
UK crude oil production is projected to average 0.53 million barrels per day in 2025 in the NSTA's updated output forecasts.
FXEmpire.com5d
Crude Inventories Drop By 3.3 Million Barrels; WTI Oil Tests The $70.00 Level
Distillate fuel inventories decreased by 0.4 million barrels from the previous week. U.S. crude oil imports increased by 810,000, averaging 6.2 million bpd. Over the past four weeks, crude oil ...
China made rare draw on crude oil inventories amid weak imports
China dipped slightly into crude stockpiles in the first two months of the year as refiners processed more oil and imports remained weak.
ET EnergyWorld10d
India’s petroleum product imports drop 17.5% in February, crude oil imports up 4.7%: PPAC
The increase in POL imports during the April-February 2024-25 period was 5.6%, driven primarily by higher imports of petcoke and liquefied petroleum gas (LPG).
Oil News: Bullish Outlook Builds on Supply Cuts and Inventory Draw
Crude oil prices rise as U.S. sanctions on Venezuela and Iran tighten supply. A bullish oil outlook forms with strong demand and a major inventory draw.
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