By Yasin Ebrahim
Investing.com – U.S. oil stockpiles rose last week, adding to concerns that rising Covid-19 cases and the ensuing lockdowns are beginning to weigh on crude demand.
U.S. crude inventories rose by 584,000 barrels last week, according to an estimate released Tuesday by the American Petroleum Institute, after a draw of 5.4 million barrels the previous week.
Crude Oil WTI Futures, the U.S. benchmark for oil, rose 0.73% after settling 1.54% higher at $41.46 a barrel.
The build comes a day ahead of the official government report expected to show weekly U.S. crude supplies fell by 1.021 million barrels last week.
Oil Inventories Rose by 584K Barrels Last Week: API
By Reuters – Oct 21, 2020
By Yuka Obayashi TOKYO (Reuters) – Oil prices eased on Wednesday after a surprise build-up in U.S. crude stockpiles stoked concerns about a global supply glut even as a spike in…
By Bloomberg – Oct 21, 2020
(Bloomberg) — Oil dropped toward $41 a barrel in New York after an industry report pointed to a surprise increase in American crude stockpiles, countering optimism over a…
By Investing.com – Oct 21, 2020
By Gina Lee
Investing.com – Gold was up on Wednesday morning in Asia, boosted by a weak dollar and the prospect of the U.S. Congress passing the latest stimulus measures ahead of…
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