Wednesday, 22 September 2021 05:59 GMT

Marginal increase seen in oil prices before U.S. inventory figures


(MENAFN) On Tuesday, Sep. 14 oil prices climbed as traders waited for information on U.S. crude inventories.

Brent crude for delivery of November soared 9 cents to settle at USD73.60 dollars per barrel on the London ICE Futures Exchange. The West Texas Intermediate for delivery of October gained 1 cent to close at USD70.46 per barrel on the New York Mercantile Exchange.

The U.S. Energy Information Administration started to issue its weekly petroleum status report on Wednesday. Analysts examined by S&P Global Platts estimate the U.S. crude stockpiles to demonstrate a decrease of 3.5 million barrels for the week concluding Sept. 10.

Shareholders kept observing the output outages in the Gulf of Mexico following Hurricane Ida.


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.