Crude oil prices ticked lower today after the U.S. Energy Information Administration reported an estimated 8.4-million-barrel build in crude oil stocks for the second week of January. This compared with a substantial build of 19 million barrels estimated for the previous week by the EIA. Despite its size, the build failed to move prices much as hopes for a quick rebound in Chinese oil demand offset any bearish effect the build would have otherwise had on prices. For the second week of the month, the EIA also reported mixed estimates for fuels.…
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The post Congress Averts Government Shutdown as House and Senate Extend Funding first appeared on Valuetainment.
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When back in July Saudi Arabia announced voluntary additional oil production cuts, traders brushed them off. Prices did not move. Everyone was preoccupied with demand in China and the U.S. Three months later, things look very different. The Saudis and ...
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Congress Averts Government Shutdown as House and Senate Extend Funding
In a dramatic turn of events, the House and U.S. Senate passed a crucial stopgap spending measure just mere hours […]
The post Congress Averts Government Shutdown as House and Senate Extend Funding first appeared on Valuetainment.
Saud Arabia’s Oil Gamble Pays Off With $95 Brent
When back in July Saudi Arabia announced voluntary additional oil production cuts, traders brushed them off. Prices did not move. Everyone was preoccupied with demand in China and the U.S. Three months later, things look very different. The Saudis and ...
Saud Arabia’s Oil Gamble Pays Off With $95 Brent
When back in July Saudi Arabia announced voluntary additional oil production cuts, traders brushed them off. Prices did not move. Everyone was preoccupied with demand in China and the U.S. Three months later, things look very different. The Saudis and ...
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