Sign up to create alerts for Instruments,
Economic Events and content by followed authors
Free Sign Up Already have an account? Sign In
Shep De
Mar 22, 2022 8:23PM ET
4.2 , but, over 4 is "Shut the door!"
0
0
Quotes
All Instrument Types
- All Instrument Types
- Indices
- Equities
- ETFs
- Funds
- Commodities
- Currencies
- Crypto
- Bonds
- Certificates
Please try another search
Extended Sale! Save on premium data with Claim 60% OFF
Oil Inventories Fell by 4.3 Million Barrels Last Week: API
Published Mar 22, 2022 04:34PM ET
Updated Mar 22, 2022 04:50PM ET
© Reuters.
By Yasin Ebrahim
Investing.com -- U.S. crude stockpiles dropped sharply last week, snapping two-weeks of gains at a time when fears of a supply shortage are receding amid fading bets on the European Union joining the U.S. oil embargo against Russia.
West Texas Intermediate, the U.S. benchmark, traded at $108.56 barrel following the report, after settling 36 cents lower $111.76 a barrel.
U.S. crude inventories fell by 4.3 million barrels for the week ended March. 17. That compared with a build of 3.8 million barrels reported by the API for the previous week. Economists were expecting a build of about 25,000 barrels.
The move lower in oil prices on Tuesday, reversed some gains from a day earlier, as the prospect of the EU banning Russia oil is fading. Some of the bloc's members including Germany, which is relies heavily on Russian oil and gas, aren't too keen on joining the embargo at time when energy prices have surged dramatically.
The API data also showed that gasoline inventories fell by 626,000 barrels last week, and distillate stocks decreased by 826,000 barrels.
The official government inventory report due Wednesday is expected to show weekly U.S. crude supplies increased by about 114,000 barrels last week.
Related Articles
Comments (6)
Shep De
Mar 22, 2022 8:23PM ET
Economy is way over the FED's heads #overheated
2
1
Chih Pin Wu
Mar 22, 2022 7:34PM ET
So what is the current inventory?
0
0
dipak nandre
Mar 22, 2022 6:44PM ET
good news bad price action may be a trap... so go with price action and not by news only....
0
0
dipak nandre
Mar 22, 2022 6:44PM ET
good news bad price action may be a trap... so go with price action and not by news only....
1
0
John Berry
Mar 22, 2022 6:02PM ET
This run in oil isn't over
12
1
Thomas Thorn
Mar 22, 2022 6:02PM ET
2 weeks ago $130... in 2 weeks from now we'll all be wishing it was only $130
0
1
Benjamin Wirth Veres
Mar 22, 2022 5:12PM ET
Who proofreads these *****articles? Full of mistakes and unfinished sentences
5
0
vince smith
Mar 22, 2022 5:12PM ET
Pedro De Pakas proofreads them
0
0
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.