Crude eases on small American stocks dip

Crude eases on small American stocks dip

On Thursday, crude lost ground, dipping for a third out of four trading sessions and keeping to its lowest since late March after data disclosed a lower than expected dip in American inventories.

The previous week American crude stockpiles edged down less than expected, while gasoline inventories soared as demand remained quite poor, as the Energy Information Administration unveiled on Wednesday.  

Crude inventories edged down by 930,000 barrels by April 28, which is much less than experts’ expectations for a sag of 2.3 million barrels. For the last four weeks crude stocks have steadily edged down, though at 527.8 million barrels they’re still 3% higher, compared to this time last year.

Brent crude futures LCOc1 sank 0.3%, hitting $50.64 a barrel, while American West Texas Intermediate crude futures CLc1 dived 0.3%, being worth $47.68 a barrel.

While WTI demonstrated its lowest value since March 27 by hitting $47.30 a barrel in the previous session, on Tuesday, Brent futures dipped showed the lowest outcome since late March, reaching $50.14 a barrel.

Similar

Brent reaches $70 on output cuts

On Monday, Brent crude rallied to $70 a barrel, underpinned by everlasting output cuts led by OPEC as well as Russia, and neglecting a soar in the US and also Canadian drilling activity, pointing to higher future output in North America…

Popular

Japan real wages surge is slowest in almost two years

Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…

promotions you can be interested in

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera