SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?


To: Goose94 who wrote (117592)12/24/2021 3:07:51 AM
From: Goose94Read Replies (1) | Respond to of 203449
 
Crude Oil: WTI Tight Inventories Push Oil Prices Back To Mid-US$70s

The interdependence of oil prices and Omicron news updates has subsided somewhat this week as the overall decline in US crude stocks and the Libyan supply disruption have been moving prices upwards. Despite US crude supply hovering around 11.6-11.7 million b/d, robust demand triggered another week-on-week decline in inventories at a whopping 4.7 million barrels. Libya degenerating into another bout of internal strife has taken off some 300,000 b/d of crude in an instant, providing a welcome Christmas gift for the oil bulls. As of Tuesday, Brent traded around $75.5 per barrel whilst US benchmark WTI was last seen around $73 per barrel.