SME Times is powered by   
Search News
Just in:   • Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia  • Europe facing earlier, stronger heatwaves: Climate scientist  • India and Namibia sign two MOUs in fields of health and entrepreneurship  • PM Modi arrives in Delhi after concluding 'productive and successful' 5-nation tour  • ASEAN to keep on consensus, inclusivity: Malaysian official 
Last updated: 13 Jan, 2021  

Crude.Thmb.jpg Oil prices surge on fall in US inventory, Saudi supply cut

Crude.9.jpg
   Top Stories
» Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia
» Piyush Goyal holds talks with Malaysian minister on review of ASEAN trade pact
» India and OPEC have a unique and symbiotic relationship: Hardeep Puri
» SIP inflows hit all-time high in June, total AUM for equity MF at Rs 74.41 lakh crore
» India set to explore over 2.5 lakh sq kms area in one of largest offshore energy efforts
SME Times News Bureau | 13 Jan, 2021
Crude oil prices rose on Wednesday, with the Brent crude trading above $57 per barrel, due to decline of stockpiles in the US.

The March contract of Brent crude futures on the Intercontinental Exchange (ICE) is currently trading at $57.37 per barrel, higher by 1.40 per cent from its previous close.

The WTI crude is trading near $54 per barrel. The February contract of WTI futures on NYMEX is current at $53.87 per barrel, higher by 1.24 per cent from its previous close.

According to data from the American Petroleum Institute, crude oil inventory in the US declined by of 5.8 million barrels in the week ending Friday, January 8.

Further, the higher supply cut recently announced by the Saudi Arabia, for the months of February and March also are supporting the crude prices.

Apart from the supply concerns, hope of improved demand on the back of the vaccine rollout across to globe to counter the pandemic also has been supportive for oil prices.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
84.35
82.60
UK Pound
106.35
102.90
Euro
92.50
89.35
Japanese Yen 55.05 53.40
As on 12 Oct, 2024
  Daily Poll
Do you think Indian businesses will be negatively affected by Trump's America First Policy?
 Yes
 No
 Can't Say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter