empty
 
 

2018.07.1906:29:00UTC+00Oil Prices Slide On Record US Output

Oil prices fell on Thursday after official weekly storage report showed an unexpected rise in U.S. crude stockpiles, with output hitting a record high.

Brent crude futures were down nearly 1 percent at $72.18 per dollar after climbing 1 percent on Wednesday. West Texas Intermediate crude futures were down 1.3 percent at $66.89 per barrel.

While U.S. crude oil production reached 11 million barrels per day (bpd) for the first time, crude stocks rose by 5.8 million barrels last week, compared with a forecast of a decline of 3.6 million barrels, the report from the U.S. Energy Information Administration showed.

Meanwhile, U.S. gasoline inventories and distillate stockpiles dropped by 3.2 million barrels and 371,000 barrels last week, the EIA reported.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback