- Analytics
- News and Tools
- Market News
- Oil futures retreated after U.S. supplies rose
Oil futures retreated after U.S. supplies rose
Oil futures retreated after U.S. supplies rose to the highest level for this time of year since Energy Department records began in 1982.
Inventories climbed 2.86 million barrels last week to 369.2 million barrels, the Energy Department said in Washington. That exceeded the 1.5 million-barrel median estimate by analysts. U.S. oil output surged to the highest level since May 1995.
U.S. production increased for a sixth week to 6.61 million barrels a day, the department said. Gasoline inventories climbed 1.72 million barrels to 197.1 million last week. They were expected to increase 500,000 barrels.
Crude oil for November delivery slid to $91.55 a barrel on the New York Mercantile Exchange. Oil traded at $92.64 a barrel before release of the inventory report.
Brent for December settlement fell 84 cents, or 0.7 percent, to $113.16 a barrel on the London-based ICE Futures Europe.
© 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
