US Crude trims gains as Brent dives
Economies.com
2019-03-14 15:54PM UTC
Oil prices diverged today as "West Texas" crude trimmed gains, after the dollar rose over most of the major currencies. While there are news of increased crude inventories in a number of countries, meanwhile Brent started falling.
While OPEC revealed in its monthly report that its oil production fell by 221,000 barrels per day to a total of 30.5 million barrels per day in February.
In a related context, the Organization for Economic Co-operation and Development said that oil inventories of member states rose by about 22.1 million barrels to 2.88 billion barrels in January.
As of 15:40 GMT, the dollar index rose 0.3% to 96.7 points, recording the highest level at 96.8 points, and the lowest level at 96.4 points.
As of 15:40 GMT, US West Texas crude rose 0.2% to $58.3 a barrel, recording its highest at $58.7 and the lowest at $58.00.
On the other hand, Brent fell 0.4% to $67.3 a barrel, recording the highest at $68.1 and the lowest at $67.3.
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