Open Demo Account
Home / Market Update / Commodities / Oil futures trim losses over EIA’s report

Oil futures trim losses over EIA’s report

Mohamed Abdelhamid 10 November, 2021 8:51 pm Commodities, Forex Market, Market Update

The Energy Information Administration reported on Wednesday that U.S. crude inventories rose by 1 million barrels for the week ended Nov. 5.

The fresh data matches the average increase expected by analysts polled by S&P Global Platts. The American Petroleum Institute on Tuesday reported a 2.5 million-barrel decline, according to sources.

The EIA also reported weekly inventory declines of 1.6 million barrels for gasoline and 2.6 million barrels for distillates.

The S&P Global Platts survey expected supplies to decrease by 1.6 million barrels for gasoline, but distillate stockpiles were expected to show no change for the week.

Tags

Check Also

Oil Markets Eying Weekly Gains Following PMI Data

Crude Oil prices rebounded after a volatile Friday, driven by a surge in the US …

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