Oil prices are rising after reaching their lowest levels in 2022

US Energy Information Administration Wednesday, US crude production rose to 12.2 million barrels per day last week, the highest level since August.

And while I retreated US crude stocks Last week, it went up gasoline stocks and distillates, exacerbating concerns about declining demand.

The Energy Information Administration said stocks benzene It grew by 5.3 million barrels during the week to 219.1 million barrels, and distillate stocks, including diesel and heating oil, swelled by 6.2 million barrels.

But the data showed that Japanese economy Shrinking less than expected in the third quarter helped the rise Oil prices.

Loosening also helped COVID-19 restrictions in Chinawhich is one of the largest consumers of crude oil in the world, in the stability of oil prices.

Meanwhile, an official at the British Treasury said that officials from Western countries are in talks with their Turkish counterparts to find a solution to the waiting lines. Oil tankers off Turkey.

This came after the Group of Seven and the European Union imposed new restrictions targeting Russian oil exports on the fifth of December.

At least 20 oil tankers are still facing further delays in transit from ports Russia From the Black Sea to the Mediterranean, as operators race to comply with new insurance rules approved by Turkey this month.

price action

Crude futures rose Brent 71 cents, or 0.9 percent, to $ 77.79 a barrel by 0422 GMT, while it increased US West Texas Intermediate crude futures 78 cents, or 1 percent, to $72.79 a barrel.

Yesterday, Wednesday, Brent fell to below the lowest closing level recorded this year, which it touched on the first day of 2022, while US crude fell to a new low, the lowest in a year.

“>

And she said US Energy Information Administration Wednesday, US crude production rose to 12.2 million barrels per day last week, the highest level since August.

And while I retreated US crude stocks Last week, it went up gasoline stocks and distillates, exacerbating concerns about declining demand.

The Energy Information Administration said stocks benzene It grew by 5.3 million barrels during the week to 219.1 million barrels, and distillate stocks, including diesel and heating oil, swelled by 6.2 million barrels.

But the data showed that Japanese economy Shrinking less than expected in the third quarter helped the rise Oil prices.

Loosening also helped COVID-19 restrictions in Chinawhich is one of the largest consumers of crude oil in the world, in the stability of oil prices.

Meanwhile, an official at the British Treasury said that officials from Western countries are in talks with their Turkish counterparts to find a solution to the waiting lines. Oil tankers off Turkey.

This came after the Group of Seven and the European Union imposed new restrictions targeting Russian oil exports on the fifth of December.

At least 20 oil tankers are still facing further delays in transit from ports Russia From the Black Sea to the Mediterranean, as operators race to comply with new insurance rules approved by Turkey this month.

price action

Crude futures rose Brent 71 cents, or 0.9 percent, to $ 77.79 a barrel by 0422 GMT, while it increased US West Texas Intermediate crude futures 78 cents, or 1 percent, to $72.79 a barrel.

Yesterday, Wednesday, Brent fell to below the lowest closing level recorded this year, which it touched on the first day of 2022, while US crude fell to a new low, the lowest in a year.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.