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Commodity: rising oil prices, falling crude and gasoline inventories

11/07/2024
Source : ORISHAS-FINANCE
Categories: Raw materials

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This Thursday, oil prices rose slightly. Crude stocks fell after American refineries accelerated their processing, and gasoline inventories fell,

a sign of stronger demand.

American West Texas Intermediate (WTI) crude oil rose by 36 cents, or 0.5%, to $82.47 per barrel. Brent futures rose by 35 cents, or 0.4%, to $85.43 per barrel

.

U.S. crude inventories fell by 3.4 million barrels to 445.1 million barrels in the week ending July 5, far exceeding analysts' expectations.

For its part, gasoline inventories fell by 2 million barrels to 229.7 million barrels, which is much larger than the 600,000 barrel drop expected by analysts during the July 4 vacation week in the United States.

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