US oil inventories News

Oil Prices Surge Over 1% as US Inventories Report Looms and Tariffs on Venezuelan Oil Stir Market

Oil prices increased by over 1% as the market awaits the EIA's report on US oil inventories, with API data showing a larger-than-expected drop. Trump's new tariffs on Venezuelan oi...

Egypt's New Oil Discovery Shakes Market: Crude Prices Dip by 1%

Egypt confirms an 8 million barrel oil reserve discovery in the Gulf of Suez, leading to a 1% drop in crude oil prices. The US reports a significant increase in oil inventories, af...

Oil Prices Dip by 1% Following Egypt's Announcement of New Oil Reserves Discovery

Crude oil prices fell by 1% after Egypt announced the discovery of 8 million barrels in oil reserves in the Gulf of Suez. The Gulf of Suez Petroleum Company will exploit the well, ...

US Oil Futures Surge 1% Amid Significant Inventory Draw, Sparking Supply Concerns

Oil futures surged by 1% following an EIA report showing a significant draw in U.S. oil inventories, raising supply concerns. WTI and Brent crude prices both saw notable increases.