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According to Dow Jones on October 24, after government data showed that U.
S.
refined oil demand rose while gasoline and diesel inventories fell, U.
S.
crude oil futures rose on Wednesday, recovering some of the losses
from a day earlier.
Light sweet crude futures for December delivery fell 39 cents, or 0.
6 percent
, to $66.
82 a barrel on the New York Mercantile Exchange.
Brent crude futures fell 0.
4 percent to $
76.
17 a barrel.
Oil prices fell 4.
2 percent on Tuesday, the biggest one-day drop in more than three months, as widespread volatility in financial markets prompted investors to hedge riskier assets
.
Oil prices were pushed down by assurances from senior Saudi officials that Saudi Arabia would go full steam ahead to meet global market demand
as U.
S.
sanctions on Iran's exports declined.
But oil prices rebounded on Wednesday, as stocks continued to fall, with the U.
S.
Energy Information Administration (EIA) reporting that U.
S.
gasoline and distillate inventories fell by 7.
1 million barrels last week and demand rose 141,000 b/d to 9.
3 million b/d
.
U.
S.
crude production was flat at 10.
9 million b/d
last week.
According to Dow Jones on October 24, after government data showed that U.
S.
refined oil demand rose while gasoline and diesel inventories fell, U.
S.
crude oil futures rose on Wednesday, recovering some of the losses
from a day earlier.
Light sweet crude futures for December delivery fell 39 cents, or 0.
6 percent
, to $66.
82 a barrel on the New York Mercantile Exchange.
Brent crude futures fell 0.
4 percent to $
76.
17 a barrel.
Oil prices fell 4.
2 percent on Tuesday, the biggest one-day drop in more than three months, as widespread volatility in financial markets prompted investors to hedge riskier assets
.
Oil prices were pushed down by assurances from senior Saudi officials that Saudi Arabia would go full steam ahead to meet global market demand
as U.
S.
sanctions on Iran's exports declined.
But oil prices rebounded on Wednesday, as stocks continued to fall, with the U.
S.
Energy Information Administration (EIA) reporting that U.
S.
gasoline and distillate inventories fell by 7.
1 million barrels last week and demand rose 141,000 b/d to 9.
3 million b/d
.
U.
S.
crude production was flat at 10.
9 million b/d
last week.
