Open Demo Account
Home / Market Update / Commodities / Oil Settles Higher on Stockpiles Draw

Oil Settles Higher on Stockpiles Draw

M. Ali 4 November, 2020 10:23 pm Commodities, Market Update

Oil prices rose on Wednesday, after data showed a decline in US crude oil inventories.

Data by the US Energy Information Administration (EIA) showed on Wednesday that crude oil inventories in the United States declined by 8 million barrels for the week ended October 30.

Brent futures for January delivery closed higher by $1.17, or 3%, at $40.88 per barrel.

Meanwhile, the West Texas Intermediate (WTI) crude for December delivery added $1.10, or 2.9%, to settle at $38.76 per barrel.

Tags

Check Also

The Eurozone’s Shifting Sands: Southern Resilience, Northern Woes

The EUR/USD currency pair recently displayed a modest rebound, inching towards 1.0430 after a period …

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