Oil – Bloomberg reported that West Texas Intermediate oil dropped for the fourth time in 5 days after data showed an increase in US inventories, higher than last week’s forecast.
Articles Tagged "energy information administration"
Oil – Bloomberg reported that a surge in United States oil production has led to the country’s biggest output level in over 2 decades, thus threatening OPEC dominance.
Oil – Oil prices gained as much as 1 percent with analysts offering further support; expecting a decline of 1 million barrels of U.S. oil supplies from 363.2 million last week. Oil inventories have not fallen nationwide for two consecutive weeks since January.
Crude Investing News reports crude oil fell due to inventories. Inventories of crude oil dropped 978,000 barrels to 337.4 million, the report showed. A 2 million-barrel gain was forecast by analysts. Supplies are 10 per cent above average. Imports fell 4.6 per cent to 9.1 million barrels a day last week. At just under $70 [...]