Oil extends losses on growing stockpiles

Source: Reuters
© ScanPix/Reuters
Crude futures slid on Wednesday, following a stronger than expected build in the US oil stockpiles and weaker manufacturing data from both China and the US, which fuelled a further decline in prices. Futures for WTI dropped 1.87% to $44.54 per barrel, while Brent futures slumped 1.47% to $48.81 per barrel by 07:20 AM GMT. Meanwhile, the latest weekly US oil inventory report revealed a growth of 7.6 million barrels.
Back to articles

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.