Commodities12 hours ago (Oct 20, 2020 04:36PM ET)
(C) Reuters.
By Yasin Ebrahim
Investing.com – U.S. oil stockpiles rose last week, adding to concerns that rising Covid-19 cases and the ensuing lockdowns are beginning to weigh on crude demand.
U.S. crude inventories rose by 584,000 barrels last week, according to an estimate released Tuesday by the American Petroleum Institute, after a draw of 5.4 million barrels the previous week.
Crude Oil WTI Futures, the U.S. benchmark for oil, rose 0.73% after settling 1.54% higher at $41.46 a barrel.
The build comes a day ahead of the official government report expected to show weekly U.S. crude supplies fell by 1.021 million barrels last week.
Oil Inventories Rose by 584K Barrels Last Week: API
By Reuters – Oct 21, 2020
By Kate Abnett BRUSSELS (Reuters) – European Union agriculture ministers agreed on Wednesday to set aside part of the bloc’s massive farming policy budget for programmes that…
By Reuters – Oct 21, 2020
By Yuka Obayashi TOKYO (Reuters) – Oil prices eased on Wednesday after a surprise build-up in U.S. crude stockpiles stoked concerns about a global supply glut even as a spike in…
By Bloomberg – Oct 21, 2020
(Bloomberg) — Oil dropped toward $41 a barrel in New York after an industry report pointed to a surprise increase in American crude stockpiles, countering optimism over a…
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.