Open Demo Account
Home / Market Update / Petroleum Institute: US oil stocks rose by 3.3 million barrels

Petroleum Institute: US oil stocks rose by 3.3 million barrels

Adel 5 January, 2023 4:20 pm Market Update

The American Petroleum Institute said that crude oil inventories rose by 3.3 million barrels in the week ending on the 30th of last December.

In its weekly report, the American Institute stated that gasoline stocks rose by 1.2 million barrels, while distillate stocks decreased by 2.4 million barrels.

Today, Thursday, the US Energy Information Administration is scheduled to announce inventory data, amid expectations that crude stocks will rise by 1.5 million barrels.

And oil prices fell when settling on Wednesday, as Brent crude futures fell 5.2%, to record $77.84 a barrel, and US West Texas crude for February delivery fell by 5.3%, at $72.84.

Tags

Check Also

Gold Prices Fall as Risk Appetite Grows Ahead of U.S.-China Trade Talks and Inflation Data

Gold prices saw a decline on Tuesday in Asian trade, pressured by improving risk appetite …

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