Author Topic: Oil falls at the settlement after Ziad big in US inventories  (Read 195 times)

Offline beach7

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Oil falls at the settlement after Ziad big in US inventories
« on: January 23, 2015, 07:57:45 AM »
Oil falls at the settlement after Ziad big in US inventories

(Independent) ... Oil prices fell at the settlement on Thursday after a government report revealed the largest increase in US crude stocks in at least 14 years.

And widened the gap between WTI and global measurement of Brent crude to $ 2.53, its biggest level since the settlement of the seventh of January, with US crude falling more than two percent.

The inn US crude $ 1.47 at the close to $ 46.31 a barrel. Brent closed down 51 cents to $ 48.52 a barrel.

And surprised the US Energy Information Administration markets by announcing rising US crude stocks 10.1 million barrels, the largest weekly increase in at least 14 years.

Said Andrew Lipo Lipo Head Oil Associates "size of the increase in (stocks) of crude was a surprise."

US Energy Information Administration data indicate that US crude inventories are currently at their highest levels at this season through no less than 80 years. He predicted traders in a Reuters poll increase of 2.6 million barrels in stocks.

The data showed an increase of 2.91 million barrels in crude stocks futures delivery center in Cushing, Oklahoma.

Oversupply in the United States and played a major role in the decline in oil prices 60 percent over the past months. (End)

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