Brent extends gains, shrugs off US inventories surge

2019-10-09 21:10:37 GMT (Economies.com)
Brent extends gains, shrugs off US inventories surge

Oil prices rose today extending their gains the release of higher than expected US crude inventories data for the fourth consecutive week.

 

The American Petroleum Institute (API) announced yesterday in preliminary data that US oil inventories rose by 4.1 million barrels during the last week.

 

While the Energy Information Administration's official data that was released today showed that oil inventories rose by around 2.9 million barrels, beating forecasts of by 2.4 million. 

 

Otherwise, the dollar index held at 99.1 points as of 16:53 GMT, with a session-high of 99.1 and a low of 98.9 points.

 

WTI rose by to $53.2 a barrel as of 16:47 GMT, with a session-high of $53.7 and low of $52.3.

 

Brent rose by 1.1% to $58.8 a barrel, with a high of $59.3 and low of $57.9.

 
 
 
  Symbol Last Change Chg.%
1.1162
-0.0004
0.0318%
1.2979
0.0027
0.2096%
17.713
0.168
0.957%
53.295
-0.412
0.768%
58.82
-0.59
0.99%
1491.595
1.440
0.097%
 
 
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