Oil prices remained on the rise with the opening of the American market on Tuesday, thanks to expectations of a decline in crude stocks in the United States for the eighth consecutive week, in a positive sign of the strength of the levels of withdrawal and demand in the largest consumer of fuel in the world, and this outweighs the impact of the lack of any progress in resolving the dispute. Saudi-Emirati within the OPEC Plus alliance.
American crude rose by 0.75% to the level of $ 74.72, from the opening level at $ 74.17, and recorded the lowest level at $ 74.05, and Brent crude rose by 0.8% to the level of $ 75.80 a barrel, from the opening level at $ 75.22, and recorded the lowest level at 75.20 $.
US crude, when settling yesterday, lost 0.7%, and Brent crude fell by 0.5%, in the first loss in the last three days, due to the stalemate in talks between the major producers within the OPEC Plus alliance.
According to the agency "Reuters", a preliminary survey showed that US crude stocks are expected to decline for the eighth consecutive week, with gasoline stocks also falling, in a positive sign of the strength of fuel demand in the United States.
Later today, preliminary data on crude stocks in the United States will be issued by the American Petroleum Institute, amid expectations of a decline in stocks for the eighth consecutive week. Tomorrow, Wednesday, official data will be issued by the American Energy Agency.
And US stocks fell the previous week to the lowest level since February 2020, levels before the outbreak of the Corona virus pandemic in the largest consumer of fuel in the world.
On the other hand, sources in the "OPEC Plus" alliance said that the group has not yet made progress in resolving the dispute between Saudi Arabia and the UAE, which prevented last week from reaching an agreement to increase oil production.
American crude rose by 0.75% to the level of $ 74.72, from the opening level at $ 74.17, and recorded the lowest level at $ 74.05, and Brent crude rose by 0.8% to the level of $ 75.80 a barrel, from the opening level at $ 75.22, and recorded the lowest level at 75.20 $.
US crude, when settling yesterday, lost 0.7%, and Brent crude fell by 0.5%, in the first loss in the last three days, due to the stalemate in talks between the major producers within the OPEC Plus alliance.
According to the agency "Reuters", a preliminary survey showed that US crude stocks are expected to decline for the eighth consecutive week, with gasoline stocks also falling, in a positive sign of the strength of fuel demand in the United States.
Later today, preliminary data on crude stocks in the United States will be issued by the American Petroleum Institute, amid expectations of a decline in stocks for the eighth consecutive week. Tomorrow, Wednesday, official data will be issued by the American Energy Agency.
And US stocks fell the previous week to the lowest level since February 2020, levels before the outbreak of the Corona virus pandemic in the largest consumer of fuel in the world.
On the other hand, sources in the "OPEC Plus" alliance said that the group has not yet made progress in resolving the dispute between Saudi Arabia and the UAE, which prevented last week from reaching an agreement to increase oil production.
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