Oil rises ahead of US inventories data, Brent jumps back above $70

2021-07-21 18:32:09 GMT (Economies.com)
Oil rises ahead of US inventories data, Brent jumps back above $70

Oil prices rose on Wednesday, despite the US dollar's rise against its peers, and ahead of the US inventories data.

 

The American Petroleum Institute (API) revealed yesterday in preliminary data that the US crude inventories fell 806K barrels during the past week.

 

The US Energy Information Administration will release its official report later today, amid forecasts for a drop by 6.7 million barrels.

 

The dollar index rose against a basket of major currencies by 0.1% to 93.06 points as of 12:46 GMT, after hitting a high of 93.1 points and a low of 92.9 points.

 

As of 12:52 GMT, WTI crude August futures rose 1.7% to $68.3 a barrel, after hitting a high of $68.5 and a low of $66.4.

 

Brent September futures rose 1.8% to $70.5 a barrel, after hitting a high of $70.7 and a low of $68.6.

 
 
 
  Symbol Last Change Chg.%
1.1843
0.0055
0.4674%
1.3903
0.0106
0.7701%
Tadawul
10933.73
22.68
0.21%
25.046
-0.166
0.656%
72.345
0.704
0.983%
74.74
0.31
0.42%
1810.230
8.095
0.449%
 
 
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