Oil falls over 1% as US inventories rise

14/02/2024 Argaam

Oil falls over 1% as US inventories rise

Oil drilling rigs

Oil closed lower today, Feb. 15, amid continuing geopolitical tensions in the Middle East and after a sharp rise in US inventories as demand fell.

 

Brent crude for April delivery fell by about 1.4%, or $1.17, to close at $81.60 per barrel, after rising to $83.61 during the session.

 

WTI crude for March delivery declined 1.6%, or $1.23, to $76.64 per barrel, after rising during trading to $78.77.

 

Data from the US Energy Information Administration showed that oil inventories rose by 12 million barrels during the week ended Feb. 9, while expectations indicated an increase of 3.3 million barrels.

 

The weekly report showed a decrease in demand for oil, as measured by final products supplied to the American market, by 973,000 barrels per day during the period.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read