API shows oil inventories in US jump by 10M barrels

Wednesday, 16. October 2019 22:42

Private data on oil inventories in the United States showed that crude oil inventories increased significantly more than expected in the previous week as they rose by 10.5 million barrels, recording the largest rise since February 2017.

Official data on crude oil inventories in the US is due to be published by the Energy Information Administration on Thursday.

After trading higher earlier in the day, West Texas Intermediate was trading 0.13% in the red after settlement, going for $52.98 per barrel at 4:30 pm ET. Brent futures for December fell 0.56% to $59.09 per barrel at 4:31 pm ET.

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Breaking the News / VP