American Petroleum Industry

The new line of lubricants will comprise greases, brake fluid, transmission oil, tractor oil, diesel exhaust fluid, gear oil and hydraulic oils, developed for multiple vehicles.

Crude inventories rose by 584,000 barrels in the week to Oct. 16 to about 490.6 million barrels, data from industry group the American Petroleum Institute showed.

Two fossil fuel industry groups dropped their attempts to intervene in a court case over climate change this week after failing to reach an agreement on a unified legal position on climate science, court filings show.

US commercial crude inventories fell by 3.6 million barrels last week, data from industry group American Petroleum Institute showed on Tuesday after the market settlement, compared with expectations for a 2.7 million barrel draw according to a revised Reuters poll.

Oil prices rose on Thursday after data showing a weekly drawdown in US crude stockpiles helped crude markets recover from the Organization of Petroleum Exporting Countries' decision not to set a ceiling for its production.

Industry group American Petroleum Institute (API) said late on Tuesday that US crude stockpiles fell last week by 482,000 barrels due to lower imports and higher refinery runs.

Oil prices extended gains in early trading in Asia on Wednesday after US prices were boosted by a stockpile draw, while a warning by OPEC (Organization of Petroleum Exporting Countries) producer Iraq that it may slow spending on new fields pushed up international crude contracts.

Oil prices fell 3 per cent on Tuesday, with US crude extending losses for a fifth straight day, as the dollar rallied amid evidence that the United States and top oil exporter Saudi Arabia were pumping more than the world needed.

Oil prices slipped to $49 per barrel on Wednesday after US crude stocks soared to the highest on record last week, and as a firmer dollar weighed on prices.

Oil fell as much as 5 per cent on Tuesday after the International Monetary Fund (IMF) cut its 2015 global economic forecast on lower fuel demand and key producer Iran hinted prices could drop to $25 a barrel without supportive action from the Organization of the Petroleum Exporting Countries (OPEC).

Brent oil rose to $106 a barrel on Wednesday, supported by a fall in US oil product inventories and worries about prolonged weakness in supply from Libya as the peak northern hemisphere winter heating season looms.

Brent futures slipped below $110 a barrel on Tuesday on worries of a slowdown in demand growth from China and the United States, two of the world's biggest oil consumers, with a rise in the dollar weighing further on the market.

Oil prices dipped in Asian trade over concerns that a possible spike in US crude inventories signalled declining demand in the world's biggest economy, analysts said.

The new line of lubricants will comprise greases, brake fluid, transmission oil, tractor oil, diesel exhaust fluid, gear oil and hydraulic oils, developed for multiple vehicles.

Crude inventories rose by 584,000 barrels in the week to Oct. 16 to about 490.6 million barrels, data from industry group the American Petroleum Institute showed.

Two fossil fuel industry groups dropped their attempts to intervene in a court case over climate change this week after failing to reach an agreement on a unified legal position on climate science, court filings show.

US commercial crude inventories fell by 3.6 million barrels last week, data from industry group American Petroleum Institute showed on Tuesday after the market settlement, compared with expectations for a 2.7 million barrel draw according to a revised Reuters poll.

Oil prices rose on Thursday after data showing a weekly drawdown in US crude stockpiles helped crude markets recover from the Organization of Petroleum Exporting Countries' decision not to set a ceiling for its production.

Industry group American Petroleum Institute (API) said late on Tuesday that US crude stockpiles fell last week by 482,000 barrels due to lower imports and higher refinery runs.

Oil prices extended gains in early trading in Asia on Wednesday after US prices were boosted by a stockpile draw, while a warning by OPEC (Organization of Petroleum Exporting Countries) producer Iraq that it may slow spending on new fields pushed up international crude contracts.

Oil prices fell 3 per cent on Tuesday, with US crude extending losses for a fifth straight day, as the dollar rallied amid evidence that the United States and top oil exporter Saudi Arabia were pumping more than the world needed.

Oil prices slipped to $49 per barrel on Wednesday after US crude stocks soared to the highest on record last week, and as a firmer dollar weighed on prices.

Oil fell as much as 5 per cent on Tuesday after the International Monetary Fund (IMF) cut its 2015 global economic forecast on lower fuel demand and key producer Iran hinted prices could drop to $25 a barrel without supportive action from the Organization of the Petroleum Exporting Countries (OPEC).

Brent oil rose to $106 a barrel on Wednesday, supported by a fall in US oil product inventories and worries about prolonged weakness in supply from Libya as the peak northern hemisphere winter heating season looms.

Brent futures slipped below $110 a barrel on Tuesday on worries of a slowdown in demand growth from China and the United States, two of the world's biggest oil consumers, with a rise in the dollar weighing further on the market.

Oil prices dipped in Asian trade over concerns that a possible spike in US crude inventories signalled declining demand in the world's biggest economy, analysts said.