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7/22, 8:15 AM (Source: TeleTrader)
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Oil trades lower on reported US inventories rise

Crude futures traded lower on Wednesday after private data showed an unexpected jump in United States oil inventories.

According to the American Petroleum Institute (API), US stockpiles jumped by 7.5 million barrels last week. Official figures on inventories are set to be released later in the day by the US Energy Information Administration (EIA).

Brent for settlements in September fell 0.50% to go for $44.10 per barrel at 2:03 am ET and West Texas Intermediate (WTI) for September delivery slid 0.64% to go for $41.65 per barrel at 2:04 am ET.

Breaking the News / NP