According to investing.com, Oil prices added to overnight gains in European trade on Thursday, climbing to a fresh 11-month high after data showed crude stockpiles in the U.S. fell for the third straight week last week.
Crude oil for July delivery on the New York Mercantile Exchange climbed to an intraday high of $51.67 a barrel, the most since July 16. It last stood at $51.27 by 07:50 GMT, or 3:50AM ET, up 3 cents, or 0.06%.
A day earlier, New York-traded oil prices rose 87 cents, or 1.73%, after data showed that oil supplies in the U.S. fell more than expected last week.
The U.S. Energy Information Administration said in its weekly report that crude oil inventories declined by 3.2 million barrels last week to 532.5 million. Market analysts' expected a crude-stock decline of 2.8 million barrels.
U.S. crude futures are up nearly 85% since falling to 13-year lows at $26.05 on February 11 as a decline in U.S. shale production boosted sentiment. However, with prices now at levels that make drilling economical for some firms, the rig count might start rising soon and the decline in U.S. production may slow.
Bellow are the 2-days graph, presenting the notable increase in prices, as well as 1-month historical prices.
A debt of gratitude is in order for contributing your essential time to post such a fascinating and valuable accumulation. It would be learned and assets are dependably of extraordinary need to everybody. If it's not too much trouble keep sharing.
ReplyDeletecomex trading signals
commodity signals
oil inventory signals