- Analytics
- News and Tools
- Market News
- Oil fell
Oil fell
Oil fell to a two-month low in New York after a government report showed that U.S. crude output climbed to the highest level in more than 15 years and fuel consumption decreased.
Futures dropped as much as 3.5 percent after the Energy Department said crude output rose 11,000 barrels a day to 6.52 million last week, the most since December 1996. Total fuel demand fell 0.3 percent to 18.3 million barrels a day in the four weeks ended Sept. 28, the lowest level since April. Gasoline supplies increased as stockpiles of crude oil and distillate declined.
Crude oil for November delivery declined $3.02, or 3.3 percent, to $88.87 a barrel at 11:07 a.m. on the New York Mercantile Exchange. Oil traded at $89.62 a barrel before release of the inventory report at 10:30 a.m. Futures touched $88.64, the lowest level since Aug. 3.
Brent oil for November settlement decreased $3.06, or 2.7 percent, to $108.51 a barrel on the London-based ICE Futures Europe exchange. The European benchmark crude was at a premium of $19.64 to the New York-traded West Texas Intermediate grade, down from $19.68 yesterday.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
