Oil rises as US crude inventories rise less than expected |
26 January (Reuters) – Oil in Asian trade on Thursday prices USALower-than-expected rise in crude oil reserves, weak dollars and made oil cheaper for non-American buyers.
Brent crude futures were up 12 cents at 86.24 by 0119 GMT. dollars/barrel, USAWest Texas Intermediate (WTI) crude oil futures rose 30 cents to 80.45 dollars has been
January 20Crude oil inventories rose by 533,000 barrels to 448.5 million barrels in the week ending in , the Energy Information Administration (EIA) said. That was well short of forecasts for a 1 million barrel increase.
Despite smaller-than-expected crude oil production, crude oil inventories rose to their highest level since June 2021, the EIA said. read more
Weaker against the euro on Wednesday USA dollar also contributed to the increase in oil, as the investors of the Federal Reserve System and Europe It will be held next week, including the meetings of the Central Bank central bank they stopped any big bets before their meeting. read more
A factor holding back oil’s rise was concern about a slowing global economy, which has dampened demand for the fuel.
According to a Reuters poll of economists, global economic growth is forecast to slow to just under 2% this year. This contrasted with widespread optimism in markets since the start of the year. read more
Reporting by Laila Kearney in New York; Edited by Bradley Perrett
Our standards: Thomson Reuters Trust Principles.
2023-01-26 06:14:45
Source – reuters
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