Oil falls despite US inventories decline

2021-06-09 18:51:27 GMT (Economies.com)
Oil falls despite US inventories decline

Oil prices fell on Wednesday, as the US dollar steadied against most of its peers, and turned lower despite a large draw in the US crude inventories.

 

The Energy Information Administration reported today that the US crude inventories fell 5.2 million barrels to 474 million barrels during the past week, while analysts forecasts a drop by 4.1 million barrels.

 

While the American Petroleum Institute reported yesterday in preliminary data that the US crude inventories fell 2.1 million barrels during the same period.

 

The dollar index rose against a basket of currencies by less than 0.1% to 90.1 points as of 18:04 GMT, after it hit a high of 90.1 points and a low of 89.8 points.

 

As of 18:01 GMT, WTI crude July futures fell 0.4% to $69.7 a barrel, after hitting a high of $70.6 and a low of $69.4.

 

Brent August futures fell 0.3% to $71.9 a barrel, after hitting a high of $72.8 and a low of $71.8.

 
 
 
  Symbol Last Change Chg.%
1.1931
0.0029
0.2411%
1.3918
0.0024
0.1709%
Tadawul
10919.68
6.62
0.06%
25.947
-0.042
0.160%
73.474
1.648
2.294%
75.56
0.32
0.43%
1775.130
-3.260
0.183%
 
 
Live Forex Updates