Oil slips after US inventories data

Economies.com
1 year ago

Oil prices fell on Wednesday, after data showed a build in the US crude inventories.

 

The Energy Information Administration reported today that the US crude inventories rose 1 million barrels to 434 million barrels during the past week, while analysts forecast a drop by 1.7 million barrels.

 

While the American Petroleum Institute reported yesterday in preliminary data that the US crude inventories rose 2.3 million barrels during the same period.

 

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The dollar index rose against a basket of major currencies by 0.4% to 96.8 points as of 17:10 GMT, after hitting a high of 96.9 points and a low of 96.4 points.

 

As of 18:35 GMT, WTI December futures fell 0.3% to $78.2 a barrel.

 

Brent January futures fell 0.3% to $82.02 a barrel.

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