World Biz
Oil prices decline as U.S. crude inventories rise
Last Updated: 2019-08-15 05:26 | Xinhua
 Save  Print   E-mail

Oil prices declined on Wednesday as unexpected builds in U.S. crude inventories weighed on the market.

U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, increased by 1.6 million barrels during the week ending Aug. 9, the U.S. Energy Information Administration said in a report on Wednesday.

At 440.5 million barrels, U.S. crude oil inventories were about 3 percent above the five-year average for this time of year.

The West Texas Intermediate (WTI) for September delivery erased 1.87 U.S. dollars to settle at 55.23 dollars a barrel on the New York Mercantile Exchange, while Brent crude for October delivery lost 1.82 dollars to close at 59.48 dollars a barrel on the London ICE Futures Exchange.

Share to 
0
Related Articles:
BACK TO TOP
Edition:
Chinese | BIG5 | Deutsch
Link:    
About CE.cn | About the Economic Daily | Contact us
Copyright 2003-2015 China Economic Net. All right reserved