Declines in West Texas Intermediate crude, substantial rise in Brent crude

Crude oil was mixed as West Texas Intermediate crude saw marginal declines, while Brent crude prices rose substantially to US$101.9 on the ICE Futures Europe exchange in London as investors worried about North Sea supplies. Earlier in the day, oil rose on news that pirates had hijacked an oil tanker off the coast of Oman, carrying Kuwaiti oil bound for USA. The US Energy Information Administration reported that crude oil supplies increased by 1.9 mln barrels to storage, bringing stockpiles to 345.1 mln barrels at the end of last week. US gasoline inventories added 4.7 mln barrels last week to 240.9 mln barrels, more than the 3.1 mln barrel gain that had been expected, as US demand dropped by 0.3% over the past four weeks.
  More News  Post Your Comment

Previous News

Next News

{{comment.Name}} made a post.




There are no comments to display. Be the first one to comment!


Name Required.


Email Id Required.

Email Id Not Valid.


Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.

Message Required.

Click to Change image  Refresh Captcha