Oil declines despite unexpected US inventory drawdown

2022-11-16 20:24:48 GMT (Economies.com)
Oil declines despite unexpected US inventory drawdown

Oil prices fell on Wednesday as the dollar stabilized against major rivals despite US inventory data.

 

The Energy Information Administration reported a drop of 5.4 million barrels in US crude stocks last week, while analysts expected a rise of 2 million barrels.

 

Gasoline stocks rose 2.2 million barrels, while distillate stocks rose 1.1 million barrels.

 

US crude futures due in December fell 1.6% as of 19:07 GMT to $85.5 a barrel.

 

Brent January futures fell 1.1% to $92.7 a barrel.

 
 
 
  Symbol Last Change Chg.%
1.0511
0.0069
0.6613%
1.2248
0.0200
1.6592%
22.734
1.378
6.452%
81.254
6.825
9.170%
87.32
0.34
0.39%
1802.210
51.735
2.955%
 
 
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