Oil prices fall, U.S. oil inventories swelling up
- 3 months ago
Wednesday has seen Oil prices dip 1% as U.S. inventories enlarge and also due to a decrease in global demand.
International Brent crude oil futures are down 1.1%, or $61.37 per barrel, down $0.71.
U.S. West Texas Intermediate crude futures also down 1.1%, down $0.61 to $52.64 per barrel.
American Petroleum Institute’s weekly report that U.S. crude inventories increased by 5.4 million barrels in the week to Nov. 30, to 448 million barrels, in a nutshell the U.S. oil markets are looking very saturated.
Source: Smart Trend Team