The decline in crude inventories in the United States of America last week, according to the report of the US Energy Information Administration issued yesterday, supported crude rises during the session yesterday, Wednesday, and continue to support them today, Thursday, hours before the markets close due to the Christmas holiday, as US crude (NYMEX) rises by about 0.46% and trades at Levels of 71.45 dollars per barrel, while Brent crude is trading at 74.13 dollars per barrel, up by 0.20%.
The report of the US Energy Information Administration issued yesterday, Wednesday, announced a decline in inventories by 4.72 million barrels in the last week ending on December 17th, compared to expectations that indicated a decline of about 2.98 million barrels. Including heating and diesel fuel, about 396,000 barrels.
Crude prices ignore the restrictions imposed by some major crude consuming countries on travel to limit the spread of the new Omicron strain, such as Australia and China, where the risk appetite stemmed from optimism about Omicron and that a boosted dose may be the solution to limit its spread on negative news.
05/11/2024
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