Rise in US crude oil inventories for the eighth straight week

Rise in US crude oil inventories for the eighth straight week

Rise in US crude oil inventories for the eighth straight week

US crude oil inventories rose during the past week to a record level while reducing the refineries produced, while refined products inventories fell with distillate to a record high, according to the EIA report Wednesday.The report showed the agency for the week elapsed on 27 February this surplus stocks of about 10.3 million barrels up more than double analysts' expectations, when a surplus of about 4 million barrels to reach that US crude oil stocks to about 444.4 million barrels pointing their highest level since the disease Statistics in the thirties of the last century.Futures US crude oil fell to deliver 15 of the month of April / May next following the release of the data to below $ 50 a barrel to trade at $ 49.71 per barrel at exactly at 06:22 pm GMT, compared with the opening levels at $ 50.65 a barrel, after having achieved Top it at $ 51.14 per barrel and the minimum at $ 49.58 a barrel.On the other level, rising US dollar index, which tracks the greenback's performance against six major currencies, especially the euro, which weighs more than half of the index as well as the Swiss franc, Japanese yen, pound sterling, krone Swedish and Canadian dollar are seeing the highest level since September / September of before 2003 that is currently trading at 95.98 levels compared Balavtaatahih at 95.37, having achieved the highest level at 96.07 and its lowest at 95.36.In the same vein, motor gasoline settled to the United States the largest consumer of crude oil globally little changed from what it was in the previous weekly reading to remain higher than the average range for this time of year, while distillate products, which include heating fuel by about 1.7 million barrels inventories fell During the last week to remain below the average range for this time of year.

This has followed the US economy reading ADP change in the functions of the US private sector for the month of February last, which showed about 212 jobs added compared to 213 thousand jobs added, below expectations at 219 thousand jobs added amid a passion for market data US labor market later in the index This week, in addition to the breadth of the supply service index during the same month to the value of 56.7 compared to 57.6 in the previous reading for the month of January without expectation of what Qmath 57.2....