Oil deepens losses after US inventories data, Brent falls below $85

2021-10-27 16:26:27 GMT (Economies.com)
Oil deepens losses after US inventories data, Brent falls below $85

Oil prices fell during on Wednesday, after the US inventories data showed an unexpected rise.

 

The Energy Information Administration reported today that the US crude inventories rose 4.3 million barrels to 430.8 million barrels during the past week, while analysts forecast a drop by 100K barrels.

 

While the American Petroleum Institute reported yesterday in preliminary data that the US crude inventories rose 2.3 million barrels during the same period.

 

The dollar index fell against a basket of major currencies 0.2% to 93.7 points as of 15:41 GMT, after hitting a high of 94.01 points and a low of 93.7 points.

 

As of 15:38 GMT, WTI crude November futures fell 1.7% to $83.2 a barrel.

 

Brent December futures fell 1.7% to $84.8 a barrel.

 
 
 
  Symbol Last Change Chg.%
1.1322
0.0052
0.4627%
1.3321
0.0012
0.0864%
Tadawul
10810.60
-60.02
0.55%
22.814
-0.231
1.002%
67.504
-4.897
6.764%
71.20
-2.24
3.05%
1793.020
7.930
0.444%
 
 
Live Forex Updates