• İstanbul 14 °C
  • Ankara 10 °C

Weaker dollar, lower crude stocks push oil prices higher

Weaker dollar, lower crude stocks push oil prices higher
Oil stocks decrease by 4.7 million barrels last week to approximately 423.6 million barrels, US Energy Information Administration data shows

By Zeynep Beyza Kilic

ANKARA (AA) - Oil prices continued to rise on Thursday, bolstered by more commodities trade due to the weaker dollar and lower-than-expected crude stocks in the US.

International benchmark Brent crude was trading at $75.44 per barrel at 0552 GMT for a 0.19% increase after closing the previous session at $75.29 a barrel.

American benchmark West Texas Intermediate (WTI) was at $72.95 per barrel at the same time for a 0.26% gain after trade ended at $72.76 a barrel in the previous session.

The dollar fell to new lows after data on Wednesday showed a more-than-expected improvement in US consumer confidence.

The more-than-expected decrease of crude oil stocks in the US also supported the increase in oil prices.

Crude oil stocks decreased by 4.7 million barrels, or 1.1%, for the week ending Dec. 17 to approximately 423.6 million barrels, the US Energy Information Administration announced on Wednesday.

The market expectation was a decrease in inventories of 2.6 million barrels.

source: News Feed
This news is a total 60 time has been read
UYARI: Küfür, hakaret, rencide edici cümleler veya imalar, inançlara saldırı içeren, imla kuralları ile yazılmamış,
Türkçe karakter kullanılmayan ve büyük harflerle yazılmış yorumlar onaylanmamaktadır.
This news yet comment has been added .
Other News
All Rights Reserved © May 2014 US Muslims | Unauthorized and the resources published.
Haber Scripti: CM Bilişim