Monday, September 26, 2022

Oil Inventories Fall by 879,000 Barrels Last Week: API By


© Reuters.

By Yasin Ebrahim – U.S. crude stockpiles fell by less than expected last week amid ongoing concerns about the threat of the delta variant of Covid-19 to demand.   

, the benchmark slipped by 79 cents to $70.47 a barrel on the news, after settling down 70 cents to $70.56 a barrel.

decreased by about 879,000 barrels for the week ended July 30. That compared with a build of 0.81 million barrels reported by the API for the previous week. Economists were expecting a draw of about 2.9 million barrels.

The API also showed that gasoline inventories declined by about 5.8 million last week, compared with a 3.3 million build in the prior week, and distillate stocks fell by about 720,000 barrels.

The official government inventory report due Wednesday is expected to show weekly U.S. declined by about 3.1 million barrels last week.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link


Please enter your comment!
Please enter your name here



Related Stories