Name: Oil extends rally as U.S. crude inventories fall
Uploaded: 2016-06-29T13:05:24+00:00
Description: Oil extends rally as U.S. crude inventories fall

Oil extends rally as U.S. crude inventories fall

Published Jun 29, 2016 09:05

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Investing.com – Oil futures Wednesday extended their recovery from Brexit as U.S. crude inventories fell.
U.S. crude was up 31 cents, or 0.65%, at $48.16 at 07:45 ET after a high of $48.58, while Brent crude added 0.45% to $49.80 after high of $49.94.
American Petroleum Institute data showed that U.S. crude inventories fell by 3.9 million barrels in the latest reporting week.
Official Energy Information Administration figures are due out later Wednesday.
These are expected to show a drawdown of 2.365 million barrels in crude stocks.
The dollar was lower as a hike in U.S. rates seems more distant as a result of Brexit.
A weaker dollar underpins demand for oil.
Federal Reserve member Jerome Powell said Tuesday said Brexit had shifted global risks “to the downside.”
The market is pending the outcome of wage talks to avoid a strike by Norwegian oil rig workers.

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S&P/TSX	25,648.00	+104.48	+0.41%
S&P/TSX 60	1,538.75	+5.61	+0.37%
US 30	44,953.5	+106.5	+0.24%
US 500	6,036.0	+37.3	+0.62%
S&P 500 VIX	13.51	-0.39	-2.81%
DAX	19,626.45	+200.72	+1.03%
Dollar Index	105.83	-0.22	-0.21%

Crude Oil WTI	68.14	-0.58	-0.84%
Brent Oil	71.84	-0.57	-0.79%
Natural Gas	3.368	+0.164	+5.12%
Gold	2,673.90	+9.10	+0.34%
Silver	31.100	+0.544	+1.78%
US Soybeans	990.75	+7.75	+0.79%
US Cotton #2	71.93	+0.18	+0.25%

Bombardier Inc	96.770	+2.170	+2.29%
Enbridge	43.38	+0.48	+1.12%
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Apple	237.33	+2.40	+1.02%
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Canada 30Y	3.132	-0.003	0.00%
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U.S. 10Y	4.177	-0.017	-0.48%
U.S. 30Y	4.365	-0.010	-0.23%
Germany 10Y	2.0870	-0.0010	0.00%

Oil extends rally as U.S. crude inventories fall

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