Wall Street turned up with oil – OBI Online

US markets turned up on Wednesday after having been over one percent in minus earlier in the day.

It happened after oil turned to plus. WTI oil rose today 1.26 percent to $ 32.27 a barrel, while Brent oil ended up 3.61 percent to $ 34.47 a barrel.

Earlier in the day oil prices fell by more than two percent .

the rise came after US crude oil inventories actually rose more than expected by 3.5 million barrels to 507.6 million barrels in the week leading up to February 19, according to statistics from the US Department of energy ( EIA) released Wednesday.

It was in advance expecting a growth of 3.3 million barrels, but even though inventories were higher than expected, they came in well below the growth of 7.1 million barrels as API reported Tuesday.

Dow Jones ended thus up 0.32 percent to 16,484.99, the S & amp; P 500 rose 0.44 percent to 1,929.80, while the Nasdaq gained 0, 87 percent to 4542.61.

Disappointing weak housing sales

Recent figures from the Department of commerce shows that sales of new single-family homes in the US fell 9.2 percent on a monthly basis in January. It provides a seasonally adjusted annual rate of 494,000 units.

The number was so solid down from December rate of 544,000.

It was expected that the sale would give an annual rate of 520,000 homes, down 4, 4 percent.

Fresh PMI figures buckets

the preliminary PMI index (purchasing Index) for the service sector in the US was 49.8 in February.

It shows latest figures from Markit, according to Bloomberg.

the month before came into the index at 53.2, and it was expected that the index would come in at 53.5 in February.