As a result of an unanticipated increase in U.S. crude stockpiles, crude oil prices fell by 1.16% Wednesday, closing at 6,492 INR. 1.825 million more barrels of crude oil were added to U.S. stocks last week, according to the Energy Information Administration (EIA), than the 2.55 million barrel drop that the market had anticipated. Distillate…
Crude oil prices rose by 0.6% during yesterday’s trading session, ultimately closing at 6551. This increase was primarily driven by a notable decline in oil inventories. The US oil stockpiles dropped by 2.508 million barrels more than anticipated, according to data released by the Energy Information Administration (EIA), exceeding market expectations. In addition, surprise drops…
The API said on Tuesday that although U.S. crude stockpiles increased last week more than anticipated, gasoline inventories decreased, suggesting that refinery activity is still recovering despite rising fuel demand. The U.S. benchmark crude oil futures, WTI Futures, settled down 0.1% at $85.36 a barrel before trading at $85.28 a barrel in response to the…
The API said on Tuesday that U.S. oil stockpiles rose last week, coinciding with a reduction in worries about a worldwide glut as a result of supply interruptions brought on by an increase in vessel attacks along a vital shipping route through the Red Sea. The U.S. benchmark for crude oil, WTI Futures, settled 1.3%…
American Petroleum Institute (API) statistics released on Tuesday, which came before the government released its official inventory figures, which would have included drawdowns from the national oil reserve, showed that U.S. crude stockpiles increased by more than 6 million barrels over the previous week. September 9, API reported that U.S. crude stockpiles increased by 6.035…
