U.S. crude prices fall sharply as inventory grows

Ishmael · 2015-02-19T02:05:52+00:00

U.S. oil futures tumbled more than 3 percent on Thursday to a one-week low around $50 a barrel after data showed a surprisingly sharp build in U.S. crude inventories. U.S. crude for March delivery CLc1 fell to a session low of $50.23 a barrel, down almost $2 from Wednesday's settlement. The contract was trading down $1.51 at $50.63 by 7.06 p.m. ET, after settling down $1.39 on Wednesday. London Brent crude LCOc1 for April delivery was yet to trade, after settling $2 lower at $60.53 a barrel. U.S. crude stocks rose by 14.3 million barrels last week, data by industry group the American Petroleum Institute showed after Wednesday's settlement, compared with analyst expectations of an increase of 3.2 million barrels. FULL story at link. http://s3.reutersmedia.net/resources/r/?m=02&d=20150219&t=2&i=1026146231&w=580&fh=&fw=&ll=&pl=&r=LYNXMPEB1I00M A crude oil train moves past the loading rack at the Eighty-Eight Oil LLC's transloading facility in Ft. Laramie, Wyoming July 15, 2014. CREDIT: REUTERS/RICK WILKING Read more: http://www.reuters.com/article/2015/02/19/us-markets-oil-idUSKBN0LN01M20150219q

Thread starter Ishmael
Start date Feb 19, 2015

Ishmael

JamiiForums uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.

Accept Learn more…

Back

Top Bottom

Forums

New posts

U.S. crude prices fall sharply as inventory grows

Ishmael

JF-Expert Member

Our Community

Regional Communities