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Thin holiday trading and rising bearish bets pushed crude toward the bottom of its recent range.
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Harbour Energy shares gained as much as 7.6 percent in London trading, the most since August.
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'Yesterday's 177 billion cubic foot withdrawal did little to stop the massive sell-off in natural gas', EBW Analytics Group Energy Analyst Eli Rubin said.
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A shortage of oil tankers is becoming so acute that newly built vessels, which usually carry refined fuels on their maiden voyages, are instead racing empty to pick up crude as soon as possible.
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In its latest STEO, the EIA increased its Brent price forecast for 2025 and 2026 but still projected that the commodity will drop next year compared to 2025.
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'Atlantis Drill Center 1 caps off an excellent year of seven major project start-ups for BP'.
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Crude oil stocks, not including the SPR, stood at 425.7 million barrels on December 5, the EIA's latest weekly petroleum status report showed.
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Brazilian oil output is rebounding from outages that removed more than 300,000 barrels a day last month, highlighting how Latin America's largest crude producer can confound OPEC efforts to micromanage the market.
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TechnipFMC won a 'significant' contract from Chevron for a recently approved project to expand the Gorgon domestic and liquefied natural gas project in Western Australia.
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CPTech secured patents in Saudi Arabia and the U.S. for its core pyrolysis oil upgrading process, part of its campaign to produce sustainable aviation fuel from plastic waste.
