- Analytics
- News and Tools
- Market News
- Oil prices traded higher as U.S. crude oil inventories declined last week
Oil prices traded higher as U.S. crude oil inventories declined last week
Oil prices traded higher as U.S. crude oil inventories declined last week. The U.S. Energy Information Administration (EIA) released its inventories figures on Wednesday. U.S. crude oil inventories decreased by 2.67 million barrels to 482.17 million barrels last week.
Crude stocks at the Cushing, Oklahoma, decreased by 241,000 barrels to 60.44 million barrels.
Strong economic data from Japan also supported oil prices. Japan's preliminary GDP climbed 0.6% in the first quarter, exceeding expectations for a 0.4% rise, after a 0.3% gain in the fourth quarter. On a yearly basis, Japan's preliminary GDP was up 2.4% in the first quarter, beating forecasts of a 1.5% increase, after a 1.1% in the fourth quarter.
Tensions in Yemen intensified.
WTI crude oil for June delivery increased to $58.71 a barrel on the New York Mercantile Exchange.
Brent crude oil for June climbed to $64.82 a barrel on 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
