Crude oil price falls, unexpected build in crude, fuel inventories in US ignites demand concerns
时间:2024-06-26 21:02:15 阅读(143)
Oil prices fell on Wednesday, erasing the previous session’s gains, after industry data showed an unexpected build in crude and fuel inventories in the United States, the world’s biggest oil user, which reignited worries about fuel demand. U.S. West Texas Intermediate (WTI) crude futures fell 59 cents, or 0.8%, to $74.53 a barrel at 0134 GMT, while Brent crude futures were down 62 cents, or 0.8%, at $79.48 a barrel.
U.S. crude stocks jumped by 14.9 million barrels in the week ended Jan. 6, sources said, citing data from the American Petroleum Institute (API). At the same time, distillate stocks, which include heating oil and jet fuel, rose by about 1.1 million barrels. Analysts polled by Reuters expected crude stocks to fall by 2.2 million barrels and distillate stocks to drop by 500,000 barrels.
“Monday’s news that China had issued a fresh batch of import quotas suggests the world’s large importer is ramping up to meet higher demand,” ANZ Research analysts said in a note. The big focus this week is on U.S. inflation data, due on Thursday. If inflation comes in below expectations that would drive the dollar down, analysts said. A weaker dollar can boost oil demand as it makes the commodity cheaper for buyers holding other currencies.
猜你喜欢
- Share Market Highlights- Nifty settles above 18300, Sensex up 180 pts; Bank Nifty above 43300, IndusInd Bank, HDFC Life gain
- Share Market Highlights- Sensex ends 248 pts up, Nifty above 18400 amid mixed global cues; auto stocks lead gains
- MSCI Index Rejig sees addition of nine stocks in Standard Index including Suzlon Energy, Paytm, Tata Motors DVR; No exclusion from India
- Wall St rises on boost from growth stocks, China reopening
- Weekly F&O outlook- Bank Nifty must top 36,000 for Nifty to top 16,000; key support, resistances this week
- What is happening in Ecuador as President declares emergency after most-wanted criminal escapes prison-
- Where is share market headed after Nifty ends above 18810, Bank Nifty above 43760; check support, resistance
- Share Market HIGHLIGHTS- Sensex ends 262 pts down, Nifty at 17718 ahead of Fed meet outcome; Reliance gains
- Share Market Highlights- Nifty settles above 17800, Sensex rises 170 pts; Bank Nifty above 42800, Tata Consumer shares gain