Business

Oil eases on rate-cut worries

字号+ Author:Smart News Source:Business 2025-01-12 06:00:39 I want to comment(0)

LONDON: Oil prices edged lower on Wednesday as a large, surprise build in US gasoline stocks and worries about the outlook for US interest rates next year outweighed easing supply concerns from a ceasefire deal between Israel and Hezbollah. Brent crude futures were down 42 cents, or 0.6 per cent, to $72.39 a barrel by 1:20pm ET (1820 GMT). US West Texas Intermediate crude slipped 51 cents, or 0.7pc, to $68.26. US gasoline stocks rose by 3.3 million barrels in the week to 212.2 million barrels, the Energy Information Administration said, compared with analysts’ expectations in a Reuters poll for a draw of 46,000 barrels. Crude stocks fell by 1.8 million barrels in the week ended Nov. 22, the EIA added, compared with analysts’ expectations in a Reuters poll for a draw of 605,000 barrels. Market sources, citing the American Petroleum Institute, had said on Tuesday that oil inventories fell by 5.94 million barrels and fuel inventories rose last week.

1.This site adheres to industry standards, and any reposted articles will clearly indicate the author and source;

Related Articles
  • CJP Afridi calls JCP meeting to consider nomination for constitutional bench

    CJP Afridi calls JCP meeting to consider nomination for constitutional bench

    2025-01-12 05:11

  • Australia drop Marsh, hand Webster debut for fifth India Test

    Australia drop Marsh, hand Webster debut for fifth India Test

    2025-01-12 04:28

  • Australia take seven wickets after tea to beat India in Melbourne

    Australia take seven wickets after tea to beat India in Melbourne

    2025-01-12 04:10

  • PSL 10: Pick order for player draft revealed

    PSL 10: Pick order for player draft revealed

    2025-01-12 03:21

User Reviews