US crude oil price rose on Tuesday after the Organization of the Petroleum Exporting Countries (OPEC) said in a report that the world's demand for oil would be more than previously expected. Brent crude also advanced on Tuesday as the 12-member OPEC said in its monthly report that world oil demand will grow faster than previously thought in 2013. The U.S. Energy Information Administration (EIA) said in a report that world oil demand would grow faster than earlier forecast in 2013, adding that rapid rises in the north American supply may not be enough to contain gasoline prices as spring is approaching. The EIA also increased its forecast for demand growth to 1.05 million barrels per day in 2013, leading to a total of 90.2 million barrels per day due to world economic recovery. As there were no important data released on Tuesday, investors were closely watching US President Obama's State of the Union address slated for late Tuesday and the G20 meeting in Moscow later in the week. Light, sweet crude for March delivery gained 48 cents, or 0.49 percent to settle at 97.51 dollars a barrel on the New York Mercantile Exchange. Brent crude for March delivery climbed 53 cents, or 0.45 percent to close at 118.66 dollars a barrel.
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