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[ltr]Oil prices fall to 4% due to a jump in US inventories[/ltr]
Since 03.24.2016 at 08:32 (Baghdad time)
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[ltr]Follow-up - the balance of News[/ltr]
[ltr]Oil prices fell as much as 4 percent, driving US crude closed below $ 40 a barrel after government data showed a jump lifted oil inventories in the United States to a record high for the sixth straight week.[/ltr]
[ltr]Oil also affected by the weak global stock markets and the rise of the dollar.[/ltr]
[ltr]The US Energy Information Administration on Thursday said commercial crude stocks jumped 9.4 million barrels last week, or three times the increase expected by analysts in a Reuters poll, amounting to 3.1 million barrels.[/ltr]
[ltr]And it landed the US Brent crude contracts for West Texas Intermediate to $ 1.66, or the equivalent of 4.0 percent recorded at the settlement in the New York Mercantile Exchange to $ 39.79 a barrel. This is the biggest drop in a single day for decades to the earliest maturity in US crude since Feb. 11 when it tumbled to its lowest level in 12 years at $ 26.05.[/ltr]
[ltr]And it closed the global Brent crude contracts for Brent crude as low as $ 1.32, or 3.2 percent, to $ 40.47.[/ltr]
[ltr]Oil prices recorded a gain of about 50 percent over the past two months. While the decline in US oil production and strong gasoline demand led some gains , but the bulk is due to the major producers of crude outside the organization to freeze production for January levels. Ended 29/4 e OPEC plans[/ltr]
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[/ltr]
Since 03.24.2016 at 08:32 (Baghdad time)
[ltr][You must be registered and logged in to see this image.][/ltr]
[ltr]Follow-up - the balance of News[/ltr]
[ltr]Oil prices fell as much as 4 percent, driving US crude closed below $ 40 a barrel after government data showed a jump lifted oil inventories in the United States to a record high for the sixth straight week.[/ltr]
[ltr]Oil also affected by the weak global stock markets and the rise of the dollar.[/ltr]
[ltr]The US Energy Information Administration on Thursday said commercial crude stocks jumped 9.4 million barrels last week, or three times the increase expected by analysts in a Reuters poll, amounting to 3.1 million barrels.[/ltr]
[ltr]And it landed the US Brent crude contracts for West Texas Intermediate to $ 1.66, or the equivalent of 4.0 percent recorded at the settlement in the New York Mercantile Exchange to $ 39.79 a barrel. This is the biggest drop in a single day for decades to the earliest maturity in US crude since Feb. 11 when it tumbled to its lowest level in 12 years at $ 26.05.[/ltr]
[ltr]And it closed the global Brent crude contracts for Brent crude as low as $ 1.32, or 3.2 percent, to $ 40.47.[/ltr]
[ltr]Oil prices recorded a gain of about 50 percent over the past two months. While the decline in US oil production and strong gasoline demand led some gains , but the bulk is due to the major producers of crude outside the organization to freeze production for January levels. Ended 29/4 e OPEC plans[/ltr]
[ltr][You must be registered and logged in to see this link.]
[/ltr]
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