And lost benchmark contracts for crude Brent And US West Texas Intermediate crude is about 13 percent, in its largest weekly decline in two years, after US President Joe Biden announced the release of oil from emergency stocks.
Brent crude futures settled down 32 cents, or 0.3 percent, at $104.39 a barrel.
US crude futures fell $1.01, or 1%, to $99.27 a barrel.
Yesterday, the US President announced the withdrawal of one million barrels of oil per day over a period of six months, starting in May, which is the largest withdrawal of oil from… US oil reserves.
The OPEC+ bloc, which includes the Organization of the Petroleum Exporting Countries (OPEC), announcedOPEC) and its allies, including Russia, on Thursday committed to plans to increase production by 432,000 barrels per day in May.
US energy companies increased the number of oil and gas rigs for the second week in a row, but the number of oil and gas rigs grew for the second week in a row excavators Operating remains sluggish as companies continue to transfer profits to shareholders after a significant rise in oil prices Instead of increasing production.
And JP Morgan said in a note that it kept its price forecast unchanged at $114 a barrel for the second quarter and $101 a barrel in the second half of this year.
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And lost benchmark contracts for crude Brent And US West Texas Intermediate crude is about 13 percent, in its largest weekly decline in two years, after US President Joe Biden announced the release of oil from emergency stocks.
Brent crude futures settled down 32 cents, or 0.3 percent, at $104.39 a barrel.
US crude futures fell $1.01, or 1%, to $99.27 a barrel.
Yesterday, the US President announced the withdrawal of one million barrels of oil per day over a period of six months, starting in May, which is the largest withdrawal of oil from… US oil reserves.
The OPEC+ bloc, which includes the Organization of the Petroleum Exporting Countries (OPEC), announcedOPEC) and its allies, including Russia, on Thursday committed to plans to increase production by 432,000 barrels per day in May.
US energy companies increased the number of oil and gas rigs for the second week in a row, but the number of oil and gas rigs grew for the second week in a row excavators Operating remains sluggish as companies continue to transfer profits to shareholders after a significant rise in oil prices Instead of increasing production.
And JP Morgan said in a note that it kept its price forecast unchanged at $114 a barrel for the second quarter and $101 a barrel in the second half of this year.