Tag: OPEC countries

Oil Prices Falls After A Surprise Increase In US Crude Stocks

New York – Oil Prices fell on Thursday after a surprise increase in US crude inventories caused a rebound in prices for bullishness pushed to get closer to their highest level since July last year.

Data from the US Energy Information Administration that commercial crude stocks in the United States recorded an unexpected increase for the second week in a row with the ascent 614 thousand barrels last week while analysts had forecast for a drop of 2.1 million barrels.

Oil Prices

Oil Prices

The information management that crude stocks in the US decades delivery center in Cushing, Oklahoma rose by 172 thousand barrels.

It fell US Brent crude contracts for West Texas Intermediate 29 cents, or about 0.54 percent recorded at the settlement of $ 53.77 a barrel.

And it closed the global Brent crude contracts for Brent low 8 cents, or 0.14 per cent to settle at 56.14 dollars a barrel.

The weak trading volumes with the absence of many investors in the year-end holidays.

Oil PricesĀ scored big gains this month to their highest levels this year after the OPEC countries agreed Others Producers on production cuts in an attempt to balance the oil market is affected by the abundance of supplies.