Oil prices rose on Wednesday, lifted by a report that U.S. crude inventories fell last week, although analysts warned that soaring U.S. output and a seasonal demand drop could soon weigh on crude. The market was supported by a report by the American Petroleum Institute (API) on Tuesday saying that U.S. crude inventories fell by 1.1 million barrels in the week to Feb. 2 to 418.4 million barrels, traders said. group of oil producers around OPEC and Russia have been withholding supplies since last year in order to tighten supplies and prop up prices. The cuts are set to last through 2018. For More Information About Commodity Market Services Please Visit : www.paceresearchindia.com and Call : 8817774774Wednesday 7 February 2018
Oil Prices Rise On Report Of Lower U.S. Crude Inventories
Oil prices rose on Wednesday, lifted by a report that U.S. crude inventories fell last week, although analysts warned that soaring U.S. output and a seasonal demand drop could soon weigh on crude. The market was supported by a report by the American Petroleum Institute (API) on Tuesday saying that U.S. crude inventories fell by 1.1 million barrels in the week to Feb. 2 to 418.4 million barrels, traders said. group of oil producers around OPEC and Russia have been withholding supplies since last year in order to tighten supplies and prop up prices. The cuts are set to last through 2018. For More Information About Commodity Market Services Please Visit : www.paceresearchindia.com and Call : 8817774774
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment