Tag: US inventories
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Oil prices rise as US stock draw boosts markets, Venezuela in focus
Oil prices recover after US inventory draw boosts sentiment Oil markets edged higher on Thursday, reversing two days of losses as a larger-than-expected draw in U.S. crude stocks offered fresh support for buyers. Traders cited expectations of tighter supply and ongoing concerns about global demand as key factors behind the rebound, with investors also weighing…
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Oil Prices Edge Higher on US Inventory Draw and Venezuela Watch
Oil Sways on Inventory Draw and Venezuela Spotlight Oil prices edged higher on Thursday following a brief retreat, supported by a larger-than-expected draw in US crude inventories. Investors are weighing short-term supply dynamics against ongoing geopolitical risk, particularly developments surrounding Venezuela. The move higher comes as traders digest data from energy reports and reassess the…