Oil pares gains after US inventories data
Oil prices rose on Thursday, as the US dollar fell against most majors, which eased pressure on commodities, but oil prices pared gains after the release of US inventories data.
The Energy Information Administration reported today that the US crude inventories rose 6.1 million barrels to 427 million barrels during the past week, while analysts forecast a drop by 0.5 million barrels.
While the American Petroleum Institute reported yesterday in preliminary data that the US crude inventories rose 5.2 million barrels during the same period.
The dollar index fell against a basket of major currencies by 0.1% to 93.9 points as of 16:08 GMT, after hitting a high of 94.09 points and a low of 93.7 points.
As of 16:00 GMT, WTI crude November futures rose 0.6% to $80.9 a barrel.
Brent December futures rose 0.7% to $83.7 a barrel.
| Symbol | Last | Change | Chg.% | ||
|---|---|---|---|---|---|
|
|
|
1.1601
|
-0.0011
|
0.0934%
|
|
|
|
|
1.3739
|
-0.0030
|
0.2182%
|
|
|
|
Tadawul
|
11807.79
|
-43.89
|
0.37%
|
|
|
|
|
24.071
|
-0.405
|
1.655%
|
|
|
|
|
82.100
|
-2.827
|
3.329%
|
|
|
|
|
84.12
|
-2.30
|
2.66%
|
|
|
|
|
1796.755
|
-7.290
|
0.404%
|
|
