Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Oil rebounds; glut concerns persist

Published 09/15/2016, 07:38 AM
Updated 09/15/2016, 07:38 AM

Investing.com - Oil Thursday recovered from steep overnight losses after the release of stockpile data.
U.S. crude was up 38 cents, or 0.87%, at $43.96 at 06:30 ET, while Brent added 1.13% to $46.37.
The Energy Information Administration Wednesday reported a surprise fall of 559,000 barrels in U.S. crude stocks in the latest week.
Crude inventories were expected to show an increase of 3.8 barrels.
However, gasoline and distillate inventories rose by more than expected.
Gains in oil prices were limited by ongoing supply concerns with Libya and Nigeria looking to restore output after disruptions.
The dollar index was up 0.06%. A stronger dollar depresses demand for oil. 

Latest comments

Harsco has a partnership with Brand Energy. Brand Energy’s bonds were downgraded deep into junk territory. Bankruptcy is a possibility in a situation like this. Harsco should look into dissolving its partnership with Brand Energy.. . Brand Energy has had 7 owners since 1996 and isn’t the most stable company. It’s owned by Clayton, Dubilier, and Rice. The CEO at Brand and the ex-GE people he brought in need to be removed. The Houston area is particularly bad and the executives there should be removed. Brand Energy is always getting sued or is suing someone. Clearly, they need a total change of management..
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.