|
US crude inventories rise more than expected
The US Energy Information Administration reported today that crude inventories rose 800,000 barrels to 489.5 million during the past week, missing forecasts of 100,000 barrels.
Gasoline stocks rose 2.6 million to 228 million barrels, and distillate stocks fell 5.2 million to 144.1 million barrels.
While the American Petroleum Institute (API) revealed on Tuesday in preliminary data that the US crude inventories rose 4.2 million barrels during the same period.
Thanks for your feedback.
Copper edges up as dollar slips
Copper prices rose slightly on Wednesday, as the US dollar slipped against most of its peers, amid optimism following news about Covid-19 vaccines.
MoreUS stocks open mixed despite Pfizer's vaccine news
The major US stock indices were mixed at early trading on Wednesday, despite Pfizer's announcement of its Covid-19 vaccine.
MoreUS crude jumps more than 2.5% ahead of EIA weekly report
The US crude continued to rise on Wednesday, gaining more than 2.5%, while heading for the second gain in 3 days after taking a pause yesterday, on strong odds for OPEC-Plus delaying the output increase scheduled early next year, which offset a sudden build in the US crude inventories according to preliminary data, and ahead of the Energy Information Administration's official report.
More