Oil falls despite US inventories draw

2021-04-07 17:57:53 GMT (Economies.com)
Oil falls despite US inventories draw

Oil prices fell on Wednesday, and gave up their early gains, despite a drop in the US crude inventories.

 

The Energy Information Administration reported today that the US crude inventories fell 3.5 million barrels to 498.3 million barrels during the past week, while analysts forecasts a drop by 700K barrels.

 

While the American Petroleum Institute reported yesterday in preliminary data that the US crude inventories fell 2.6 million barrels during the same period.

 

The dollar index held against a basket of currencies at 92.3 points as of 16:44 GMT, after it hit a high of 92.4 points and a low of 92.2 points.

 

As of 16:42 GMT, WTI crude April futures fell 0.7% to $58.9 a barrel, after hitting a high of $60.04 and a low of $58.1.

 

Brent May futures fell 0.6% to $62.3 a barrel, after hitting a high of $63.5 and a low of $61.6.

 
 
 
  Symbol Last Change Chg.%
1.2057
0.0031
0.2544%
1.3869
-0.0084
0.5992%
Tadawul
10127.90
18.31
0.18%
26.075
0.283
1.099%
61.409
-1.769
2.800%
65.61
0.21
0.32%
1784.960
13.510
0.763%
 
 
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