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Oil prices fall, U.S. oil inventories swelling up

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  • Economy
  • 10 months ago
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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