Oil prices rose noticeably on Wednesday (5/5) due to the removal of pandemic lockdowns, which bodes well for summer travel activity and subsequent oil demand.
WTI is currently at $66.56, up 1.7% from yesterday (5/4).
Similarly, Brent jumped 1.7% to $69.79, closing in on the $70/barrel mark.
Additionally, the EIA reported a crude inventory draw of 8.0 million barrels for the most recent week.
Related Categories :
Oil & Gas Prices
More Oil & Gas Prices News
-
Oil Report : Back Again, Same Story -
-
Oil Report : Play Oil For a Bounce Here -
-
Biden to Release One Million BPD from Reserves for Six Months; Push for Federal Leasehold Production
-
Operators Cite Investor Pressure for Production Growth Restraint
-
Dallas Fed Survey: E&P Spending to Jump; Focus on Production Growth, Debt Cuts -
United States News >>>
-
Petrus Resources Ltd. First Quarter 2023 Results
-
Battalion Oil Corporation First Quarter 2023 Results
-
Amplify Energy Corporation First Quarter 2023 Results -
-
Denbury Inc., First Quarter 2023 Results
-
Evolution Petroleum Corporation Fiscal Third Quarter 2023 Results