Open Demo Account
Home / Market Update / Commodities / Oil Continues to Struggle for Direction

Oil Continues to Struggle for Direction

M. Ali 20 August, 2020 12:30 am Commodities, Market Update

Oil prices closed lower on Wednesday after data showed a decline in the US crude inventories, which came below market expectations.

Brent crude futures for October delivery declined by 9 cents, or 0.2%, and settled at $45.37 per barrel.

Meanwhile, the West Texas Intermediate (WTI) futures for September delivery rose by 4 cents, or 0.1%, and finished at $42.93 per barrel.

Earlier, data by the U.S. Energy Information Administration (EIA) showed a decline in the US crude oil stockpiles by of 1.6 million barrels last week to a total of 512.5 million barrels.

Tags

Check Also

Gold Holds Near Record Highs as Traders Await Key U.S. Inflation Data

Gold prices edged lower in Asian trading on Thursday, with investors adopting a cautious stance …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends