![]() West Texas Intermediate (WTI) crude rose 75 cents, or 1.1%, to $69.36. "This report is definitely more supportive than the (API) report that we saw yesterday," said Phil Flynn, an analyst at Price Futures Group, referring to the "larger than expected drawdown in crude oil supplies" in the EIA report.īrent futures rose 78 cents, or 1.1%, to $74.02 a barrel by 10:43 a.m. ![]() That compares with a 0.7-million barrel withdrawal forecast by analysts in a Reuters poll, a 2.3-million barrel decrease in the American Petroleum Institute (API) trade group’s survey, a 10.2-million barrel increase during the same week last year and a five-year (2018-2022) average increase of 0.4 million barrels for this time of year. Energy Information Administration (EIA) said energy firms pulled 4.3 million barrels of crude from stockpiles during the week ended Dec. Oil prices edged up about 1% on Wednesday from a five-month low in the prior session on a much bigger-than-expected weekly withdrawal from U.S.
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