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

U.S. crude build expected for third straight week

Published 02/06/2019, 04:27 AM
Updated 02/06/2019, 04:27 AM
© Reuters.  U.S. crude build expected for third straight week
  • Oil traders have plenty to digest as the market continues to shift under their feet.
  • Cargo-tracking firm Kpler reported crude shipments to the U.S. from OPEC and its partners fell to a five-year low 1.41M barrels a day in January. The firm noted shrinking Iraqi imports and deep output cuts by Saudi Arabia contributed to the decline.
  • Meanwhile, the American Petroleum Institute is reported to have said that a U.S. crude supply build of 2.51M barrels of oil is expected for the week ending February 1. The weekly U.S. crude stock build would be the third consecutive if EIA data confirms it later today.
  • In early action, WTI crude oil futures -0.3% to $53.51/bbl and Brent crude -0.3% to $61.79/bbl.
  • ETFs: USO, OIL, UWT, UCO, DWT, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM, WTIU, OILK, OILX, WTID, USOI, USOU, USOD, OILD, OILU, USAI
  • Now read: A Great Month For (Some) Oil And Gas Investors


Original article

Latest comments

get ready for a bounce! once this pandemic recovers...oil will climb again
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.