{"id":187892,"date":"2021-02-19T22:22:33","date_gmt":"2021-02-19T22:22:33","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=187892"},"modified":"2021-02-19T22:22:35","modified_gmt":"2021-02-19T22:22:35","slug":"us-oil-prices","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/us-oil-prices\/","title":{"rendered":"US oil prices decline after 4 high sessions"},"content":{"rendered":"\n<p>US oil prices witnessed a decline for the first time in four consecutive sessions at the end of Thursday&#8217;s trading. Prices recorded a decline from their highest levels in more than a year, even in light of the drop in US stockpile data.<\/p>\n\n\n\n<p>The oil stocks in the United States exceeded expectations during the previous week, declining by about 7.3 million barrels. Gasoline stocks consumption increase by about 0.7 million barrels.<\/p>\n\n\n\n<p>Indicators showed a decrease in the US production of oil by 200,000 barrels per day during the previous week.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">US oil prices<\/h2>\n\n\n\n<p>Crude oil prices achieved great profits since the beginning of last week ending Thursday, in light of the disruption of production in the United States Because of the cold weather.<\/p>\n\n\n\n<p>The price of futures contracts for US NYMEX crude for March delivery recorded a decrease of 1% upon settlement. The price reached $60.52 a barrel for the first time since the beginning of last year.<\/p>\n\n\n\n<p>The prices of futures contracts for <a href=\"https:\/\/www.google.com\/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=&amp;cad=rja&amp;uact=8&amp;ved=2ahUKEwj638LX_PbuAhU77uAKHdV7ADsQFjAAegQIAhAD&amp;url=https%3A%2F%2Foilprice.com%2Foil-price-charts%2F46&amp;usg=AOvVaw1AJoJ7XyDJ3k9NnMygqaLM\">Brent crude<\/a> for April delivery, by eight o&#8217;clock GMT yesterday evening, decreased by 0.8%, to reach $63.85 dollars a barrel.<\/p>\n\n\n\n<p>After it crossed the $65 level earlier in trading, the highest level since January 2020.<\/p>\n\n\n\n<p>Earlier, oil prices rose by about 2% upon settlement of transactions the week before last. Thereby, Brent crude crossed $60 level for the first time in a year.<\/p>\n\n\n\n<p>US oil prices recorded weekly profits of about 9%, the largest since last October. Futures contracts for US NYMEX crude for March delivery, upon settlement, increased by 2%, to reach $57.97 a barrel.<\/p>\n\n\n\n<p>Futures prices for benchmark Brent crude rose by 2.1% to reach $60.56 a barrel, the highest level since January of 2020.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Snow storm effect<\/strong><\/h2>\n\n\n\n<p>It is noteworthy that the snow storm that strikes countries around the world revived oil prices and raised Brent crude to near $65 a barrel, today, Thursday.<\/p>\n\n\n\n<p>The snow storm stopped more than 40% of US crude production, which contributed to the rise in prices.<\/p>\n\n\n\n<p>Oil futures prices rose in London by 0.8%, to close at their highest level in 13 months.<\/p>\n\n\n\n<p><strong>Keep reading:<\/strong> <a href=\"https:\/\/www.bnreport.com\/opec-expects-300000-oil-production-increase-in-2021\/\">OPEC Expects 300,000 Oil Production Increase In 2021<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>US oil prices witnessed a decline for the first time in four consecutive sessions at the end of Thursday&#8217;s trading. Prices recorded a decline from their highest levels in more than a year, even in light of the drop in US stockpile data. The oil stocks in the United States exceeded expectations during the previous [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":187893,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[278,169],"class_list":["post-187892","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-featured","tag-oil"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>US Oil Prices Decline After 4 High Sessions - Bnreport<\/title>\n<meta name=\"description\" content=\"Bnreport - Business - US oil prices witnessed a decline for the first time in four consecutive sessions at the end of Thursday&#039;s trading\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/us-oil-prices\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US Oil Prices Decline After 4 High Sessions - 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