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Inventories fall U.S. crude oil prices extend their rally

 Last Update: 2022-11-26
 Source: Internet
 Author: User

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According to Reuters Singapore on August 23, U.
S.
crude oil futures rose slightly on Thursday, continuing the previous session's gains, boosted by the decline in U.
S.
commercial crude oil inventories, while the international crude oil market weakened
due to the Sino-US trade dispute.

West Texas Intermediate crude futures CLc1 were trading at $67.
90 a barrel at 0118 GMT, up $0.
04 from the last settlement
.
Prior to that, the previous session's gain was 3%.

William O'Loughlin, an investment analyst at Rivkin Securities in Australia, said: "Oil prices rose
sharply overnight as inventories fell more than expected.
”

U.
S.
commercial crude inventories fell by 5.
8 million barrels to 408.
36 million barrels
in the week ended Aug.
17, the U.
S.
Energy Information Administration (EIA) said on Wednesday.

International markets weakened
as the ongoing trade dispute between the United States and China was seen as a drag on economic growth.

12Next View full article

crude

West Texas Intermediate crude futures CLc1 were trading at $67.
90 a barrel at 0118 GMT, up $0.
04 from the last settlement
.
Prior to that, the previous session's gain was 3%.

William O'Loughlin, an investment analyst at Rivkin Securities in Australia, said: "Oil prices rose
sharply overnight as inventories fell more than expected.
”

U.
S.
commercial crude inventories fell by 5.
8 million barrels to 408.
36 million barrels
in the week ended Aug.
17, the U.
S.
Energy Information Administration (EIA) said on Wednesday.

International markets weakened
as the ongoing trade dispute between the United States and China was seen as a drag on economic growth.

12Next View full article

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