Investing.com - Financial Markets Worldwide
Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

Crude oil falls after U.S. inventories show buildup

Published 2015-09-29, 08:30 p/m
Crude oil falls after U.S. inventories show buildup
LCO
-
CL
-

By Aaron Sheldrick
TOKYO, Sept 30 (Reuters) - Crude oil futures fell in early
Asian trade on Wednesday after U.S. inventories showed a weekly
buildup that far exceeded analyst expectations.
The American Petroleum Institute (API) said late on Tuesday
that U.S. crude oil stockpiles rose by 4.6 million barrels to
457.8 million barrels in the week to Sept. 25. Analysts polled
by Reuters had expected an increase of only 102,000 barrels.
API/S EIA/S .
Front-month U.S. crude CLc1 had dropped 49 cents, more
than 1 percent, to 44.74 a barrel by 0012 GMT. The contract
settled Tuesday's trade at $45.23 a barrel, up 80 cents, or 1.8
percent, on the day.
Brent crude LCOc1 , the global oil benchmark, fell 37 cents
to $47.86 a barrel. On Tuesday, the contract rose 89 cents, or
1.9 percent, to $48.23.
The U.S. government's Energy Information Administration
(EIA) will issue official weekly inventory data on Wednesday.
Wednesday's session may be more volatile due to the close of
September and third-quarter trading, according to some analysts.
U.S. crude is heading for a 9-percent decline this month as
the slump in commodities continues amid deepening concerns over
China's slowdown in economic growth.
Brent crude is on track to round out September with a nearly
12-percent drop.


Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.