Oil keeps gains ahead of API inventories data

2021-04-06 16:44:26 GMT (Economies.com)
Oil keeps gains ahead of API inventories data

Oil prices rose on Tuesday, as the US dollar fell against most of its peers, and ahead of the US inventories data.

 

The American Petroleum Institute will release its preliminary report on the US crude inventories, amid the US Energy Information Administration will release the official data on Wednesday.

 

The dollar index fell against a basket of currencies by 0.1% to 92.5 points as of 16:12 GMT, after it hit a high of 92.7 points and a low of 92.5 points.

 

The markets absorbed OPEC-Plus coalition decision to gradually increase oil production between May and July, and Saudi Arabia stated that it would also ease its 1 million bpd voluntary cut, and its production will increase gradually.

 

As of 16:13 GMT, WTI crude April futures rose 2% to $59.8 a barrel, after hitting a high of $60.9 and a low of $58.6.

 

Brent May futures rose 1.8% to $63.2 a barrel, after hitting a high of $64.2 and a low of $62.1.

 
 
 
  Symbol Last Change Chg.%
1.1979
0.0068
0.5747%
1.3779
0.0031
0.2277%
Tadawul
9847.62
27.59
0.28%
25.424
0.329
1.311%
62.927
2.537
4.201%
66.41
2.71
4.25%
1736.775
-0.160
0.009%
 
 
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