Top
Begin typing your search above and press return to search.
exit_to_app
Why this silence when freedoms are taken away
access_time 2021-02-24T15:29:20+05:30
The struggle to retrieve the kitchen
access_time 2021-03-03T11:31:58+05:30
Disgruntled dissidents and future of Congress
access_time 2021-03-02T11:58:48+05:30
access_time 2021-03-01T15:37:17+05:30
Towards a digital emergency?
access_time 2021-02-27T14:50:41+05:30
Is privatisation really good for India?
access_time 2021-02-26T15:06:44+05:30
DEEP READ
Towards a digital emergency?
access_time 2021-02-27T14:50:41+05:30
The slaughter of democracy in Puducherry
access_time 2021-02-24T11:27:21+05:30
Populist Fascism
access_time 2021-01-31T17:19:29+05:30
Media Freedom
access_time 2021-01-31T15:47:07+05:30
Sharjeel Imam
access_time 2021-01-30T15:19:40+05:30
exit_to_app
Homechevron_rightBusinesschevron_rightOil prices surge, WTI...

Oil prices surge, WTI up on early signs of demand recovery in US

text_fields
bookmark_border
Oil prices surge, WTI up on early signs of demand recovery in US
cancel

New Delhi: Oil prices surged on Thursday with the WTI crude rising around 14 per cent on indications that fuel demand in the US is starting to pick up and the supply glut in the world's largest economy is not rising at the anticipated pace.

The June delivery contract of WTI on the NYMEX is currently trading at $ 17.15 per barrel, higher by 13.88 per cent from the previous close.

The June contract of Brent on the Intercontinental Exchange (ICE) was at $24.25 per barrel, higher by 7.59 per cent

According to data from the US Energy Information Administration released on Wednesday, US crude inventories rose by nine million barrels last week to 527.6 million barrels, below the anticipated rise of over 10 million barrels.

The rise in the oil prices comes after the recent freefall on concerns of decline in the storage capacity as supply continues and demand remains nearly standstill.

Last week in an unprecedented price movement, the WTI crude fell below zero for the first time ever.

Show Full Article
TAGS:
News Summary - Oil prices surge, WTI up on early signs of demand recovery in US
Next Story