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Oil: Contracts fall this Thursday

23/04/2021
Source : ORISHAS FINANCE
Categories: Sectors

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After the U.S. Department of Energy (EIA) announced an increase in crude stocks of around 600,000 barrels for the week ending April 16, oil contracts fell on Thursday.

While inventories slightly exceeded the rise of 436,000 barrels, oil prices fell. At 7:30am, the June contract for North Sea Brent lost 23 cents, at 65.09 dollars per barrel, while the contract of the same maturity on light sweet crude (WTI) listed on Nymex lost 24 cents, to 61.11 dollars per barrel.
Analysts agree that the unexpected rise in U.S. crude stocks, published by the U.S. Energy Information Agency (EIA), was the main downward factor

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