Oil slips as demand fears outweigh strong U.S. stocks draw

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Oil prices eased on Wednesday on concerns that U.S. fuel demand may not recover as quickly as expected amid stalled talks on an economic stimulus package, overshadowing a bigger-than-expected drawdown in U.S. crude stocks.

FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Picture taken November 22, 2019. REUTERS/Angus Mordant

“Demand concerns weighed on oil prices, with U.S. economic stimulus still nowhere in sight and U.S.-Sino trade talks being postponed,” said Hiroyuki Kikukawa, general manager of research at Nissan Securities. On the positive side, U.S. crude inventories fell by 4.3 million barrels to about 512 million barrels, more than analysts’ expectations for a 2.7 million-barrel drawdown, while gasoline stocks rose, industry data from the American Petroleum Institute showed after the markets closed on Tuesday. [EIA/S] [API/S]

 

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Let Dinosaur fuel go extinct!

Awesome, somebody now tell California that.

It’s like fucking onion headine - just need byline of “but the rich knows how to fu I the poor and will have them brag about having been raped by somebody rich. ——— Capitalism- it’s like, economic Stockholm syndrome!

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