collected by :Jack Luxor U.S. commercial crude inventories soared by 18.8 million barrels to 508.6 million barrels, according to the EIA. The U.S. Energy Information Administration (EIA) said on Wednesday that gasoline stocks USOILG=ECI fell by 869,000 barrels last week to 256.2 million barrels, versus analyst expectations for a 1.1 million-barrel gain. U.S. West Texas Intermediate (WTI) crude CLc1 was up 14 cents at $52.48 a barrel. REUTERS/Mike Stone/File PhotoSINGAPORE Oil prices stabilized on Thursday, boosted by an unexpected draw in U.S. gasoline inventories, although bloated crude supplies meant that fuel markets remained under pressure. Brent crude futures LCOc1, the international benchmark for oil prices, were trading at $55.27 per barrel at 0137 GMT, up 15 cents from their last close.
as mentioned in
Peers tracking industry segments, including Alerian MLP (AMLP) and SPDR S&P Oil & Gas Equipment (XES), also trimmed heavy early losses. Reports of rising U.S. inventories have pummeled oil prices this week, with United States Oil (USO) slicing below its 50-day moving average line. Aggregate Bond (AGG), +0.3%, RS 22PowerShares DB U.S.$ Bullish (UUP), -0.1%, RS 36IPath S&P 500 VIX Short-Term Futures (VXX), -0.5%, RS 1 Gas stocks fell by 869,000 barrels vs. views for a 1.1 million-barrel gain, according to CNBC. Investors digested mixed news tied to oil and gas stockpiles, as well as tech giant Apple's (AAPL) march nearer to all-time highs.
"Healthy gasoline demand eventually translates into higher refinery runs and increasing crude demand." Oil advanced after government data showed that U.S. gasoline supplies unexpectedly fell, while crude stockpiles rose the most since October. Gasoline demand climbed the most in a year. That was in line with the industry-funded American Petroleum Institute, which reported Tuesday an increase of 14.2 million barrels. Crude inventories climbed 13.8 million barrels in the week ended Feb. 3 as imports increased, the Energy Information Administration said.
read more visit us oil markets
as mentioned in
Energy ETFs Rebound As Gasoline Offsets Rise In U.S. Oil Stockpiles
Peers tracking industry segments, including Alerian MLP (AMLP) and SPDR S&P Oil & Gas Equipment (XES), also trimmed heavy early losses. Reports of rising U.S. inventories have pummeled oil prices this week, with United States Oil (USO) slicing below its 50-day moving average line. Aggregate Bond (AGG), +0.3%, RS 22PowerShares DB U.S.$ Bullish (UUP), -0.1%, RS 36IPath S&P 500 VIX Short-Term Futures (VXX), -0.5%, RS 1 Gas stocks fell by 869,000 barrels vs. views for a 1.1 million-barrel gain, according to CNBC. Investors digested mixed news tied to oil and gas stockpiles, as well as tech giant Apple's (AAPL) march nearer to all-time highs.
"Healthy gasoline demand eventually translates into higher refinery runs and increasing crude demand." Oil advanced after government data showed that U.S. gasoline supplies unexpectedly fell, while crude stockpiles rose the most since October. Gasoline demand climbed the most in a year. That was in line with the industry-funded American Petroleum Institute, which reported Tuesday an increase of 14.2 million barrels. Crude inventories climbed 13.8 million barrels in the week ended Feb. 3 as imports increased, the Energy Information Administration said.
read more visit us oil markets
Comments
Post a Comment