Oil rises to $68 a barrel

Oil rose to $68 a barrel and hit its highest in a month on Tuesday, supported by a disruption to Libyan exports and expectations of a drop in U.S. crude inventories, although rising coronavirus cases in Asia limited gains.

Libya declared force majeure on exports from the port of Hariga and said it could extend the measure to other facilities.

U.S. crude stockpiles are expected to drop by 2.9 million barrels in weekly reports.

Valeura Energy Inc (LON:VLU) is an upstream oil & gas company, with a clear strategy to add value for shareholders. The Company has a strong balance sheet positioning it for potential inorganic growth opportunities in the near/medium-term, and substantial longer-term upside potential through an operated deep, tight gas play.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Valeura Energy

More articles like this

Valeura Energy

Oil prices rise today

Oil prices rose on Tuesday, with Brent gaining for a fourth consecutive session, as the prospect of extra supply coming to the market soon from Iran faded with talks dragging on over the United States rejoining a nuclear

Valeura Energy

EIA lifts WTI & Brent oil-price forecasts for this year

The U.S. Energy Information Administration lifted its forecasts for this year’s U.S. and global benchmark oil prices, according to a monthly report released Tuesday. The EIA forecast this year’s West Texas Intermediate crude prices at an average $61.85 a

Valeura Energy

Oil prices rise by 1%

Oil prices rose by 1 percent early on Monday, driven by expectations that recovering demand with summer travel and reopening economies will easily accommodate the gradual increase in OPEC+ production. As of 10:16 a.m. EDT on Monday, WTI Crude was

Valeura Energy

Oil prices regain losses

Oil prices recouped some of last week’s losses on Monday as a potential snag emerged in reviving the 2015 Iran nuclear deal that could add more oil supply, with indirect talks between Washington and Tehran due to resume

Valeura Energy

Oil hits two-month high at $70

Oil rose on Tuesday to hit $70 a barrel for the first time since March, as expectations of demand recovery following reopenings of the European and U.S. economies offset concern over spreading coronavirus cases in Asia. The British