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MTECHTIPS;-CRUDE OIL
U.S. crude futures fell below $93 a barrel on Thursday, extending declines from a near 2 % drop a
day earlier, pressured by weak shares and an unexpected rise in U.S. crude inventories. U.S. crude inventories unexpectedly rose by 4.4 million barrels last week. API data also showed gasoline inventories climbed by 1.9 million barrels, a larger build than a forecast rise of 100,000 barrels. Distillate inventories rose by 3.1 million barrels compared with projections for unchanged stocks. Outlook : Rising tensions regarding Syria and the raising of the arms embargo are bound to offer some support for the commodity however it will take cues from US economic data.
WWW.MTECHTIPS.COM
07489294118-119
U.S. crude futures fell below $93 a barrel on Thursday, extending declines from a near 2 % drop a
day earlier, pressured by weak shares and an unexpected rise in U.S. crude inventories. U.S. crude inventories unexpectedly rose by 4.4 million barrels last week. API data also showed gasoline inventories climbed by 1.9 million barrels, a larger build than a forecast rise of 100,000 barrels. Distillate inventories rose by 3.1 million barrels compared with projections for unchanged stocks. Outlook : Rising tensions regarding Syria and the raising of the arms embargo are bound to offer some support for the commodity however it will take cues from US economic data.
WWW.MTECHTIPS.COM
07489294118-119
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