Sign up to create alerts for Instruments,
Economic Events and content by followed authors
Free Sign Up Already have an account? Sign In
Quotes
All Instrument Types
- All Instrument Types
- Indices
- Equities
- ETFs
- Funds
- Commodities
- Currencies
- Crypto
- Bonds
- Certificates
Please try another search
Cyber Monday Deal: Up to 55% off CLAIM SALE
Crude Oil Prices Flat After Hike in Inventories
Published Sep 19, 2018 05:10AM ET
© Reuters. Oil prices were flat on Wednesday.
Investing.com - Oil prices were flat on Wednesday, as U.S. crude stockpiles rose higher than expected.
West Texas Crude oil futures for November fell 0.01% to $69.58 a barrel as of 5:09 AM ET (9:09 GMT). Meanwhile Brent crude futures, the benchmark for oil prices outside the U.S., decreased 0.18% to $78.89 but still remained near four-year highs.
Data from the American Petroleum Institute (API) showed on Tuesday that U.S. crude stocks hiked by 1.2 million barrels to 397.1 million in the week to Sept. 14, opposed to market expectations of a drop of 2.7 million barrels.
Prices of oil have been driven higher in recent months as investors anticipate pressure from U.S. sanctions against Iran. The sanctions, which are expected to go into effect on November 4, have already caused Iran’s crude exports to fall.
Meanwhile the U.S.-Sino trade war escalated after China said it would impose new tariffs on U.S. goods worth $60 billion, effective Sept. 24. The new tariffs are in response to U.S. tariffs on Monday of 10% on $200 billion in Chinese goods, which will go up to 25% at the end of the year.
Donald Trump previously stated that the U.S. would impose tariffs on another $267 billion of additional imports if China retaliates.
Investors were also looking ahead to weekly crude oil inventories from the Energy Information Administration, which are due later in the session.
In other energy trading, Gasoline RBOB Futures rose 0.07% at $2.0070 a gallon, while heating oil decreased 0.11% to $2.2333 a gallon. Natural gas futures slipped 0.10% to $2.930 per million British thermal units.
Related Articles
Add Chart to Comment
Confirm Block
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
Report this comment
I feel that this comment is:
Comment flagged
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.