Oil rises after drop in U.S. crude stocks suggests demand pickup

📆 7/1/2020 8:25 AM
📰 Reuters

⏱ Reading Time:
17 sec. here
2 min. at publisher
📊 Quality Score:
News: 10%
Publisher: 97%

United Kingdom News News

United Kingdom United Kingdom Latest News,United Kingdom United Kingdom Headlines

Oil prices rose more than 1% on Wednesday after data showed crude inventories in the United States fell much more than expected, suggesting demand is improving even as the coronavirus outbreak spreads around the world.

FILE PHOTO: The moon rises behind the storage tanks of a local oil refinery in Omsk, Russia June 5, 2020. REUTERS/Alexey Malgavko

Crude inventories dropped by 8.2 million barrels to 537 million barrels, against analysts’ forecasts for a draw of 710,000 barrels. The 13-member grouping produced an average of 22.62 million barrels per day in June after they agreed to cut output, a Reuters survey found, down 1.92 million bpd from May’s revised figure.

Write Comment

What changed from “ news “ 28 hours ago . All BS !

In other news Twitter stock continues to dive even though the NASDAQ hit a record high and the Dow Jones has nearly recovered from a 'pandemic' shut down

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:

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Oil prices slip as weak Japan data exposes market jitters over fragile demandOil prices fell in early trade on Tuesday after weak Japanese industrial production data, not usually a market-moving factor, was enough to jangle trader nerves over a bumpy recovery in fuel demand as coronavirus pandemic restrictions ease. Oil prices slipped on oily surface. F*ck the market. Seriously. They drive bikes over there. Please Stop!! $Spy
Source: Reuters - 🏆 2. / 97 Read more »