Crude Oil Consolidates Recent Gains

27/09/2017 16:36 AST

Crude oil prices were flat Wednesday morning, holding recent gains after industry data showed a surprise drop in US crude oil inventories.

Domestic stockpiles fell by 761,000 barrels at the end of last week, the American Petroleum Institute (API) estimated Tuesday, compared with a 2 million barrels build expected.

The EIA is out with the government's official data this morning at 10:30 am ET.

WTI light sweet crude oil was up 1 cent at USD51.90 a barrel, having touched the highest since April.

On the economic front, the Commerce Department's Durable Goods Orders for August will be issued at 8.30 am ET. The economists are looking for growth of 1.5%.

The National Association of Realtors' Pending Home Sales Index for August will be published at 10.00 am ET. The consensus is for a decline of 0.2%, narrower than 0.8% in the prior month.


RTT News

Most Viewed Companies

Ticker Price Volume

Crude Oil

(In US Dollar) Change Change(%)
Brent 72.61 -0.2 -0.27
WTI 67.2 -0.43 -0.64
OPEC Basket 70.97 0.37 0.52

Recent News

Oil prices rise as US crude inventories show large drop

05/08/2020

Oil prices rose on Wednesday after inventory data showed a big drop in U.S. crude stocks although gains were capped by concerns over fuel demand with mounting global COVID-19 cases.

Brent

The Gulf Today

Oil tops $42 as OPEC+ ‘laggards’ promise to step up compliance

20/06/2020

Oil rose to above $42 a barrel on Friday, adding to gains in the previous session, after OPEC producers and allies promised to meet supply cuts and signs of demand, hit by the coronavirus crisis, rec

Arab News

Global oil production plunges to 89.89m barrels in May

20/06/2020

The total global oil production in May amounted to 89.89 million barrels per day (bpd), marking a daily decrease of 10.04 million bpd compared to April, according to figures released by the Organisat

Trade Arabia

Saudi Arabia leads cuts as OPEC throttles production in May

18/06/2020

Major oil producers sharply cut back output in May, data showed on Wednesday, as part of a concerted effort to prop up prices that have fallen dramatically in the wake of the global coronavirus pande

Arab News

Opec expects global oil demand to shrink by 9.1m bpd in 2020

18/06/2020

Opec forecast that global oil demand will shrink by 9.1 million barrels per day to reach 90.06m bpd in 2020 but anticipates a recovery in demand during the second half of the year.

Demand

The National

logo

Market Information Trading Co.

(MITCO), P.O. Box 15570, Jeddah 21454, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2017, Market Information Trading Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap