Open Demo Account
Home / Market Update / Commodities / Oil Falls as Crude Stockpiles Rise

Oil Falls as Crude Stockpiles Rise

M. Ali 8 October, 2020 1:49 am Commodities, Market Update

Oil prices declined on Wednesday, after official data showed a the first rise in four week in US crude inventories.

This also comes after the complications facing a new economic stimulus package.

Nonetheless, declines were limited due to recent output disruptions, which helped crude prices finish above session lows.

Brent crude futures for December delivery lost 66 cents, or 1.6%, and finished at $41.99 per barrel, while the West Texas Intermediate (WTI) November futures closed lower by 72 cents, or 1.8%, at $39.95 per barrel.

Tags

Check Also

U.S. Inflation Refuses to Cool as Growth Slows Sharply — The Federal Reserve’s Hardest Test Yet

The latest batch of U.S. economic data has delivered an uncomfortable message to markets: inflation …

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