Oil declined the most in a week with rising US crude stockpiles seen as an obstacle facing a market that is still recovering from a pandemic-induced demand slump.
Futures fell 1.6% to the lowest level in nearly two weeks in New York on Friday. A US government report showed domestic crude inventories increased for the first time since December, rising more than 4 million barrels last week. However, the data also showed refiners processed the most crude since March, an encouraging sign.
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25 Jan 2021
Cenkos: Oil & Gas Sector -- Falcon Oil & Gas, Trinity Exploration & Production, 88 Energy, Westmount Energy, Cairn Energy, Serica Energy, Genel Energy, Pharos Energy, TransGlobe Energy, Energean, PetroTal, ExxonMobil, NEO Energy/HitecVision, JKX Oil & Gas,
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Cenkos: Oil & Gas Sector -- Falcon Oil & Gas, Trinity Exploration & Production, 88 Energy, Westmount Energy, Cairn Energy, Serica Energy, Genel Energy, Pharos Energy, TransGlobe Energy, Energean, PetroTal, ExxonMobil, NEO Energy/HitecVision, JKX Oil & Gas,
Falcon Oil & Gas Ltd. (FOG:LON), 7.2 | 88 Energy Limited (88E:LON), 0.3 | Diversified Energy Company PLC (DEC:LON), 905 | Empyrean Energy PLC (EME:LON), 0.6 | Trinity Exploration & Production Plc (TRIN:LON), 40.0 | Barryroe Offshore Energy PLC (PVDRF:OTC), 0
- Published:
25 Jan 2021 -
Author:
James McCormack -
Pages:
8
Oil declined the most in a week with rising US crude stockpiles seen as an obstacle facing a market that is still recovering from a pandemic-induced demand slump.
Futures fell 1.6% to the lowest level in nearly two weeks in New York on Friday. A US government report showed domestic crude inventories increased for the first time since December, rising more than 4 million barrels last week. However, the data also showed refiners processed the most crude since March, an encouraging sign.
A st ....