News Formal

Oil falls as US stocks increase

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 63%

United States News News

Analysts had expected drop of 849,000 barrels

Tokyo — Oil prices resumed their slide on Wednesday, dragged down by a surprise gain in US inventories and comments from the head of Russian state oil producer Rosneft questioning the point of a deal with the Organisation of Petroleum Exporting Countries to withhold supplies.

Oil prices have fallen sharply on fears about slowing global demand, but won a respite on Tuesday after a global stock market rally on hopes of a cut in US interest rates. The oil market has been weighed down by concerns about slowing global growth from the US-Sino trade war and President Donald Trump’s threats last week to place tariffs on Mexican imports.

 

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:

 /  🏆 12. in US

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

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

Oil rises on decline in US stocksConcern over the escalating US-China trade war caps gains
Source: BDliveSA - 🏆 12. / 63 Read more »

PIC has no record for R4bn investment into obscure oil exploration companyInvestment was made in obscure company with links to the ANC and former president Zuma BandiMchunu No leadership/captain whatsoever in that ship. Incredible! How many people were involved? Don’t think R4bn gets released by 1 rogue person? How is this, less of an outrage, than someone insulting another? I don't see the outcries....
Source: BDliveSA - 🏆 12. / 63 Read more »