NEW YORK : Oil prices fell for a third day on Wednesday on rising crude inventories and production in the U.S., the world's biggest oil consumer, along with increasing hopes of a ceasefire agreement in the Middle East.Brent crude futures for July fell 47 cents, or 0.5 per cent, at $85.
Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020. REUTERS/Drone Base/File PhotoNEW YORK : Oil prices fell for a third day on Wednesday on rising crude inventories and production in the U.S., the world's biggest oil consumer, along with increasing hopes of a ceasefire agreement in the Middle East.
U.S. crude oil inventories swelled last week by 4.906 million barrels, while gasoline and distillate stockpiles fell, according to market sources citing American Petroleum Institute figures on Tuesday. U.S. crude supply is also showing signs of ramping up, with production rising to 13.15 million barrels per day in February from 12.58 million bpd in January in its biggest monthly increase in about 3-1/2 years, the Energy Information Administration said on Tuesday.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
4.8-magnitude earthquake rattles New York, New JerseyBuildings shook, but there were no immediate reports of damage.
Read more »
Oil inches up after US reimposes Venezuela oil sanctionsTOKYO : Oil prices rose in early trade on Thursday, slightly paring the previous session's losses after the United States said it would reinstate oil sanctions Venezuela, while the European Union talked of fresh curbs on Iran. Brent futures were up 10 cents, or 0.11 per cent, at $87.39 a barrel, while U.
Read more »
New York City defends AI chatbot that advised entrepreneurs to break lawsNEW YORK : New York City Mayor Eric Adams is defending the city's new artificial intelligence chatbot that has been caught in recent days giving business owners wrong answers or advice that, if followed, would entail breaking the law.
Read more »
New York City to Pay $17.5 Million in Settlement with Muslim Women Forced to Remove HijabsNew York City has agreed to pay $17.5 million to settle a lawsuit filed by two Muslim women who were forced to remove their head coverings after being arrested. The women felt shamed and violated by the experience. The lawsuit was filed in 2018 and was a class-action suit. The settlement is seen as a victory for justice and the rights of Muslim women.
Read more »
4.8-Magnitude Earthquake Strikes Near New York CityA 4.8-magnitude earthquake struck near New York City, shaking buildings and surprising residents in an area that rarely experiences notable seismic activity. The quake's epicenter was near Whitehouse Station, New Jersey, and caused no major damage.
Read more »