Arab Today, arab today oil pulls back on unexpected inventory build
Last Updated : GMT 21:25:08
Arab Today, arab today
Arab Today, arab today

Oil pulls back on unexpected inventory build

Arab Today, arab today

Arab Today, arab today Oil pulls back on unexpected inventory build

New York - Xinhua

Oil prices pulled back on Wednesday to the lowest level since Dec. 30 on an unexpected inventories increase and a stronger U.S. dollar. According to the Energy Information Agency of the Energy Department, crude inventories rose 4.96 million barrels to 334.6 million barrels last week, the highest level since the week ending Dec. 2. What\'s more, the gain was almost five times as more as analysts had expected. In the same period of time, gasoline supplies climbed 3.61 million barrels to 223.8 million, the highest level since March, as demand for the fuel tumbled 4.4 percent to 8.18 million barrels a day, the lowest level since February 2003. Also adding to pressures, data showed German gross domestic product decreased by about 0.25 percent in the fourth quarter, pushing euro lower against the dollar. A stronger dollar was negative to oil prices as it made oil less appealing to investors holding other currencies. As of Wednesday\'s close, light, sweet crude for February delivery dropped 1.37 dollars, or 1.34 percent, to settle at 100. 87 dollars a barrel on the New York Mercantile Exchange. In London, Brent crude for February delivery also declined and last traded over 112 dollars a barrel.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today oil pulls back on unexpected inventory build Arab Today, arab today oil pulls back on unexpected inventory build

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today oil pulls back on unexpected inventory build Arab Today, arab today oil pulls back on unexpected inventory build

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday