World oil prices drifted higher on Thursday in low trading volumes amid the Thanksgiving holiday in the United States, analysts said. Approaching midday in London, Brent North Sea crude for delivery in January increased by 77 cents to $107.79 a barrel. New York's main contract, light sweet crude for January, added 60 cents to $96.77. "We still see some consolidation here with the market pausing as most players in the United States are absent on the long holiday weekend for Thanksgiving celebrations," said VTB Capital analyst Andrey Kryuchenkov. The market also won support from the weekly US inventory report, which showed a larger-than-expected fall in crude oil reserves last week. "The US inventories report shows declining crude oil stocks and that has supported oil," added Victor Shum, senior principal of Purvin and Gertz energy consultants in Singapore. The US Department of Energy said on Wednesday that American crude reserves recoiled by 6.2 million barrels in the week ending November 18, indicating strengthening demand.
GMT 18:36 2017 Tuesday ,26 December
Scenting a recovery, oil producers ratchet up spendingGMT 20:43 2017 Monday ,25 December
Oil markets will witness balance in 2018: Iraqi Oil MinisterGMT 16:17 2017 Sunday ,24 December
Iraq invites bids for new oil pipelineGMT 14:26 2017 Friday ,22 December
Energy prices bump key US inflation index up in NovemberGMT 17:59 2017 Tuesday ,19 December
Japan trade surplus drops sharply on higher oil importsGMT 17:31 2017 Thursday ,14 December
Energy costs push US consumer inflation higher as Fed meetsGMT 15:30 2017 Wednesday ,29 November
Shell resumes all-cash dividend as oil price recoversGMT 13:22 2017 Sunday ,26 November
Chinese demand teaser to weigh on Vienna oil summit
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor