Statistics from the US Department of Energy (DOE) released Wednesday show that US crude oil inventories rose 2.6 million barrels to 456.2 million barrels in the week leading up to August 14.
Gasoline inventories fell 2.7 million barrels to 212.8 million barrels, while distillate stocks rose 0.6 million barrels to 148.4 million barrels.
Crude stocks were expected down 0.8 million barrels, while gasoline and distillate stocks were expected respectively . down 1.3 and up 1.5 percent.
Brent oil further down
The figures have had a negative effect on the Brent oil.
The October contract are $ 48.08, compared with $ 48.64 just before the stock figures were released. Front contract is now down 1.5 percent in today’s trading.
WTI oil traded on its side for $ 41.94 a barrel, down from $ 42.62 just before at 16:30.
There is a decrease of 2.9 percent in today’s trading.
No comments:
Post a Comment