Oil gains 1% after US crude stocks signal tighter supply

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 66%

Business News News

Business Business Latest News,Business Business Headlines

Oil prices rose at the start of Asian trade on Wednesday after industry data showed drawdowns in U.S. crude and fuel stockpiles, raising supply concerns.The gains come on the back of news from Tuesday that the European Union is working on new sanctions against Russia for waging war on Ukraine that will ta

Oil prices rose at the start of Asian trade on Wednesday after industry data showed drawdowns in U.S. crude and fuel stockpiles, raising supply concerns.

European Commission President Ursula von der Leyen is expected to spell out the plans on Wednesday, officials said. U.S. crude and fuel stocks fell last week, according to market sources citing American Petroleum Institute figures. Crude stocks fell by 3.5 million barrels for the week ended April 29, the sources said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Crude Oil Inventory by Site Bryan Mound - contains 215.3 MMB in 19 caverns Big Hill - contains 122.7 MMB in 14 caverns West Hackberry - contains 173.6 MMB in 21 caverns Bayou Choctaw - contains 55.1 MMB in 6 caverns

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in BUSİNESS

Business Business Latest News, Business Business Headlines