Oil Inventories Fell 5.27M Barrels Last Week: API By Investing.com

Oil Inventories Fell 5.27M Barrels Last Week: API

CommoditiesJan 26, 2021 22:47

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Oil Inventories Fell 5.27M Barrels Last Week: API

By Yasin Ebrahim

Investing.com - U.S. oil stockpiles fell last week as Cushing, Okla., inventories fell sharply, pointing to an increase in refinery activity.

U.S. crude inventories fell by 5.27 million barrels last week, according to an estimate released Tuesday by the American Petroleum Institute, after a build of 2.56 million barrels the previous week. Cushing inventory slipped by 3.48 million barrels rose Gasoline inventories rose by 3.06 million barrels and distillate stocks increased by 1.4 million barrels.

Crude Oil WTI Futures, the U.S. benchmark for oil, fell 4 cent cents after settling down 11 cents at $55.77 per barrel.

The official government report due Wednesday is expected to show weekly U.S. crude supplies increased by about 430,000 barrels last week.

UPDATE 2-Oil slides 1% on fears over higher OPEC supply, slower China demand By Reuters - Mar 02, 2021

* OPEC+ meets on Thursday to discuss output * OPEC output drops in Feb on additional Saudi cut -survey * China's weak factory activity raises fears over slow oildemand (Adds...

PRECIOUS-Gold falls to over 8-mth low on stronger dollar, higher yields By Reuters - Mar 02, 2021

* Dollar index holds near four-week peak * Silver drops to over one-month low (Adds comment, updates prices) By Sumita Layek March 2 (Reuters) - Gold prices slumped to their lowest...

Oil extends losses on worry over possible supply increase from OPEC By Reuters - Mar 02, 2021

* OPEC+ meets on Thursday to discuss output * OPEC output drops in Feb on additional Saudi cut -survey * China's weak factory activity raises fears over slow oildemand By Yuka...

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NSE 30	1,600.64	+7.19	+0.45%
NSE All Share	39,931.63	+131.74	+0.33%
US 30 Futures	31,435.0	-74.0	-0.23%
S&P 500 Futures	3,885.88	-12.87	-0.33%
FTSE 100	6,614.91	+26.38	+0.40%
DAX	14,046.20	+33.38	+0.24%
South Africa Top 40	62,102.97	-4.07	-0.01%

Brent Oil	63.03	-0.66	-1.04%
Crude Oil WTI	60.06	-0.58	-0.96%
Gold	1,718.10	-4.90	-0.28%
Silver	26.100	-0.578	-2.17%
Copper	4.1057	-0.0073	-0.18%
London Cocoa	1,936.00	+24.00	+1.26%
London Wheat	207.25	-0.15	-0.07%

USD/NGN	381.250	+0.700	+0.18%
EUR/USD	1.2015	-0.0032	-0.27%
GBP/USD	1.3895	-0.0027	-0.20%
EUR/NGN	495.900	-2.600	-0.52%
USD/CAD	1.2669	+0.0024	+0.19%
GBP/JPY	148.47	-0.12	-0.08%
AUD/USD	0.7757	-0.0012	-0.15%

Access Bank	8.10	-0.10	-1.21%
Zenith Bank	25.80	+0.35	+1.38%
UBA	8.35	+0.20	+2.45%
FBN Holdings	7.10	-0.25	-3.40%
Guaranty Trust Bank	31.00	0.00	0.00%
Sterling Bank	1.620	-0.110	-6.43%
Dangote Cement	209.00	-11.00	-5.00%

Oil Inventories Fell 5.27M Barrels Last Week: API

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