US EditionOil Edges up on US Crude Stocks Drop, Impact of US Tariffs on India
11 Articles
11 Articles
U.S. Crude Stocks Fall Another 2.4 Million Barrels
Crude oil inventories in the United States decreased by 2.4 million barrels during the week ending August 22, after falling 6 million barrels in the week prior, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The build brings commercial stockpiles to 418.3 million barrels according to government data, which is 6% below the five-year average for this time of year. The EIA’s data release follows A…
Oil prices closed upwards on Wednesday after data showed a higher than expected fall in U.S. crude reserves and investors weighed the potential impact of new U.S. tariffs on India. Brent crude futures rose 83 cents, or 1.2 percent, to $68.05 a barrel. West Texas Intermediate crude futures earned 90 cents, or 1.4 percent, to $64.15. Both contracts fell more than 2% on Tuesday.Mexican export mix rose 52 cents or 0.84% to $62.62 a barrel.U.S. crude…
Oil prices rose markedly at the Wednesday session, with data showing a higher than expected decline in American crude stocks, down by 2.4 million barrels to 418.3 million barrels last week, according to the United States Energy Information Department. The decline compared to earlier projections of 1.9 million barrels, showing a balance between supply and demand that directly affects world markets.
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