Oil slips after unexpected build in US crude stocks

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 66%

United States News News

United States United States Latest News,United States United States Headlines

SINGAPORE : Oil fell in early Asian trade on Wednesday, paring two straight days of gains after an industry report showed U.S. crude inventories rose unexpectedly last week in a sign fuel demand may be weakening.Brent futures, which have risen more than 3 per cent this week, were down 48 cents, or 0.6 per

SINGAPORE : Oil fell in early Asian trade on Wednesday, paring two straight days of gains after an industry report showed U.S. crude inventories rose unexpectedly last week in a sign fuel demand may be weakening.

Data from the American Petroleum Institute on Tuesday showed U.S. crude inventories rose by about 3.3 million barrels in the week ended March 17, sources said. Traders and analysts will be looking out for data from the U.S. Energy Information Administration on Wednesday to see whether it confirms signs of weaker crude demand.

Following the meeting, Chair Jerome Powell is expected to unveil new economic projections and the central bank's path for interest rate hikes.

 

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

United States United States Latest News, United States United States Headlines