The price of oil is falling due to rising reserves in the United States

News

The price of oil is falling due to rising reserves in the United States

30.10.2020 News

Oil becomes cheaper due to a sharp increase of reserves in the US and an increase in the number of coronavirus cases, which has raised fears of oversupply and weakening demand. This is evidenced by the data of stock trading on the site Investing.com published on Wednesday, October 28.

In particular, the price of December futures for Brent oil on the London Stock Exchange ICE Futures is $ 40.49 per barrel, which is $ 0.71 (1.72%) lower than the closing price of the previous session.

At the same time, the price of futures for WTI oil in December at the electronic trading on the New York Mercantile Exchange NYMEX fell by $ 0.87 (2.20%) to the level of the previous session – to $ 38.70 per barrel.

The U.S. Petroleum Institute (API) reports that U.S. oil reserves rose from 4.6 million barrels to about 495,200,000 for the end of the week on Oct. 23, while analysts estimated they would rise in 1.2 million barrels.

“The rise in oil reserves in the United States, which exceeded forecasts, provoked a new sell-off, while fears of supply disruptions due to Hurricane Zeta have subsided,” said Hiroyuki Kikukawa, chief research officer at Nissan Securities.

Other articles

  • The price of oil exceeded $ 44 on news from the United States
    News

    The price of oil exceeded $ 44 on news from the United States

    World oil prices of reference brands continue to rise on the news of the victory of the Democratic candidate Joe Biden in the US presidential election and information on the success of tests of the vaccine from COVID-19 of the American company Pfizer Inc. and German BioNTech. This is evidenced by trading data on Wednesday, […]

  • Oil prices jumped in the US election
    News

    Oil prices jumped in the US election

    In the background of the general election in the United States world oil prices jumped.This is evidenced by trading data as of Monday morning, November 9. And what about the election, according to preliminary data in the presidential race the Democrat Joseph Biden wins. Thus, the price of January futures for Brent oil on the […]

  • Chevron made a net loss of $ 4.9 billion in nine months
    News

    Chevron made a net loss of $ 4.9 billion in nine months

    The net loss of the second largest American oil and gas company Chevron, which accounts for the parent company, in the first nine months of 2020 amounted to 4.878 billion dollars against a profit of 9.534 billion dollars a year earlier, the company said. The diluted loss per share was $ 2.63 against earnings of […]

  • Chevron has completed the purchase of the Noble Energy
    News

    Chevron has completed the purchase of the Noble Energy

    Oil and gas company Chevron has closed the deal to buy the US Noble Energy for $ 5 billion, follows from the Chevron message. “Chevron announced today that the acquisition of Noble Energy has been completed following the approval of the agreement by the Noble Energy shareholders,” the company said. Earlier on Monday, Noble Energy […]

  • Experts predict a low oil price in September
    News

    Experts predict a low oil price in September

    The price of oil in September will remain low, perhaps even a slight decrease from current levels below $ 40 per barrel. In October, the downward trend is likely to be interrupted and a gradual growth will begin, which will accelerate in November and December, according to TASS experts. “There will be no serious drop […]

  • David Beckham’s company aimed at listing on the London Stock Exchange
    News

    David Beckham’s company aimed at listing on the London Stock Exchange

    Company Guild Esports of David Beckham, specializing in cybersport, announced plans to place its shares on the London Stock Exchange in the autumn of 2020. During the IPO, the company expects to raise 20 million pounds ($ 25.86 million). It is estimated that it will be valued at 50 million pounds. The resulting funds Guild […]

  • Shares of AstraZeneca are down 1.7% due to discontinuation of trials of COVID vaccine
    News

    Shares of AstraZeneca are down 1.7% due to discontinuation of trials of COVID vaccine

    Shares of the British-Swedish pharmaceutical company AstraZeneca on the London Stock Exchange (LSE) are down 1.69% after reports of stopping trials of the corona virus vaccine, according to trading platform data. Securities lost 1.69% in value, dropping to 82.07 pounds sterling. The basic index of the British stock market FTSE 100 on Wednesday traded in […]

Read also

The price of oil is falling due to rising reserves in the United States
News

Lvovselmash become bankrupt

Recently, one of the plants of Lviv, which operates in the agricultural sector, has become bankrupt. This refers to the  agricultural machinery plant “Lvovselmash” that the Commercial Court of Zaporizhia region declared a bankrupt and opened the liquidation procedure. Last month, in February, the Commercial Court of Zaporizhia region ordered the reopening of the bankruptcy […]

Next
The price of oil is falling due to rising reserves in the United States
News

The court overturned a fine of € 790 million for 14 airlines

14 famous international airlines, such as British Airways, Air France-KLM, Qantas Airways, Air Canada, etc.,  were accused of cartel in the area of ??cargo and had to pay a fine of € 790 million. The European court of general jurisdiction, the second most important court in the EU, in its verdict says that the decision, […]

Next
The price of oil is falling due to rising reserves in the United States
News

Walt Disney has invested $ 400 mln. to the creation of new cable channel

The Walt Disney Company has decided to invest in the creation of successful new cable channel called Viceland, which involve “fresh” audience and raise ratings. A few weeks after the initial investment, Disney has doubled the amount of investment in a digital media company Vice Media; as a result of the total transaction amount is […]

Next
The price of oil is falling due to rising reserves in the United States
Analytics

Results of the survey on lawyer.ua: corporate lawyer competence

In every company sooner or later there comes a time when the manager asks a question of legal support for business. Solutions may be very different: someone delegate such powers to accountant and it really works, it is true, as long as does not need an expert with deeper legal competence, and someone is trying […]

Next
The price of oil is falling due to rising reserves in the United States
News

Georgian Manganese, controlled by shareholders of Privatbank, stopped the work of Chiatura manganese mine until the spring

Georgian Manganese temporarily suspends all works on the extraction and enrichment of manganese ore in the Chiatura mine (formerly JSC “Chiaturmarganets”, Georgia, Imereti). According to American Metal Market, the activities will be stopped starting from January 20, due to poor market conditions in the global markets of steel products. Stop of Enterprice , which is […]

Next
The price of oil is falling due to rising reserves in the United States
News

Vinnytsia network of pharmacies reacquires 18 million of shares

The supervisory board of Vinnitsafarmation in the press release reported:” Vinnitsafarmation which owns ‘Bazhayemo zdorovya’ network of pharmacies , intends to reacquire 18 million of common shares PJSC ‘Vinnitsafarmatsyia’ intends to redeem 18 million of common nominal shares”. PJSC ‘Vinnitsafarmatsyi’a plans to make the relevant decision at extraordinary general shareholder meeting which will take place […]

Next
The price of oil is falling due to rising reserves in the United States
News

Ukraine has canceled the registration of foreign investments

President of Ukraine Petr Poroshenko has signed the law on the abolition of compulsory registration of  foreign investments, which took the Verkhovna Rada of Ukraine on 31 May. This report announced on the website of the President of Ukraine. The law abolishes certain articles of the statutes of the Economic Code of Ukraine and the […]

Next
The price of oil is falling due to rising reserves in the United States
News

Ukrkurier will pay a fine in the amount of 430 thousand UAH

Antimonopoly Committee of Ukraine has fined Ukrkurier in the amount of 430 thousand UAH for providing false information. On it informs Interfax Ukraine with reference to official information of regulator. According to the original source, it is talking about a flawed formulation that representatives of the company use on its official website in the description […]

Next
The price of oil is falling due to rising reserves in the United States
Analytics

Healthcare reform in Ukrainian

What are the risks of medical reform in Ukraine? What it must change? Will the industry be funded as stated? Will insurance medicine work and how the market for medical services will be? Medicine established on authorities VS medicine established on evidence In November 2016, the Cabinet of Ministers of Ukraine approved the Concept of […]

Next
The price of oil is falling due to rising reserves in the United States
News

Apple has patented the iPhone with a self-healing screen

Apple has patented the new method with the help of the smartphone will be able to repair damage to the display. Such technology can be implemented in the iPhones of the future generations with the flexible displays. The display will be covered with the layer of the elastomer which has highly elastic properties and viscosity. […]

Next
The price of oil is falling due to rising reserves in the United States
Analytics

Relations Refinement Registration with the Builder. Part IV

Closing a topic of legal relations registration niceties with the builder, we have approached to the last which  LDaily so-called as a”scheme” of investment attraction. It is apartment purchase through securities. This method deserves a special attention because it is simple, reliable and becomes more and more popular. Therefore builders practice the conclusion thicket and […]

Next
The price of oil is falling due to rising reserves in the United States
Analytics News

The Results of the Presidential elections in the USA

The victory of the candidate of republicans at presidential elections in the United States of America became a big surprise for the world community. Despite the fact that most the analytical bureaus holding authority on the USA relied on democrats, Donald Trump could collect 290 votes of delegates, therefore, became the forty-fifth President of America. […]

Next
The price of oil is falling due to rising reserves in the United States
News

A shareholder of Alfa-Bank Ukraine became an investor of Uber

The LetterOne Holding (L1), one of whose shareholder is the billionaire Mikhail Fridman (who was born in Lviv, and who is one of the shareholders of Alfa-Bank Ukraine), invested $ 200 million in Uber  taxi service. This is stated in the message of LetterOne. “I am very pleased with our strategic partnership with Uber. As […]

Next
The price of oil is falling due to rising reserves in the United States
News

Walmart’s net profit for February-October increased by 44%

The consolidated net profit of the world’s largest retail chain, American Walmart, for the nine months of 2020-2021 fiscal year (February-October 2020) increased by 44% and amounted to $ 15.714 billion, according to a press release. Walmart’s adjusted net income per share for the nine months was $ 5.48 against $ 3.74 in the same […]

Next
The price of oil is falling due to rising reserves in the United States
News

Apple lost a day capitalization of $ 180 billion

During trading on Thursday, Apple’s market of the capitalization fell by 8%, which means a loss of almost $ 180 billion. This is a record daily cost reduction for any company in the history of the American market. However, Apple’s capitalization still significantly exceeds of $ 2 trillion. Excluding 2020, the previous anti-record was set […]

Next
The price of oil is falling due to rising reserves in the United States
News

The US authorities have allowed Intel to continue the supplying its Huawei products

Intel has received licenses from US regulators to continue supplying certain products to Huawei Technologies. The list of products is not specified. Due to the significant deterioration of relations between the United States and China, Washington is putting pressure on the governments around the world to oust Huawei from the market. The US government claims […]

Next
WP2Social Auto Publish Powered By : XYZScripts.com