Oil weaker in Asia as US stocks post surprise rise @WWW.MCXRESEARCHGURU.COM 8859222859

Crude traded weaker in Asia on Wednesday as doubts over OPEC production cuts began to spread and the American Petroleum Instute reported an increase in U.S. supplies of crude.

U.S. crude oil inventories estimates from the American Petroleum Institute API) on Tuesday reportedly showed an increase of 1.6 million barrels for the week to July 14, against an expected drop of 3.740 million barrels. Inventories of distillates were dropped 2.9 million barrels, according to reports. The market will now look to data from the Energy Information Administration on Wednesday.

Leave a Reply

Your email address will not be published. Required fields are marked *

Skip to toolbar