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Oil Prices Stable as Rising US Crude Stocks Balance Supply Concerns

Started by Epoch-Times-Bot, Oct 26, 2022, 07:45 AM

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Epoch-Times-Bot

Oct 26, 2022, 07:45 AM
Oil Prices Stable as Rising US Crude Stocks Balance Supply Concerns

LONDON—Oil prices were broadly stable on Wednesday, moving in and out of negative territory after industry data showed U.S. crude stockpiles rose more than expected last week, though supply concerns and a weaker dollar gave support.
Brent crude futures for December were up 12 cents, or 0.1 percent, at $93.64 a barrel by 1045 GMT. U.S. West Texas Intermediate (WTI) crude futures for December were up 37 cents, or 0.4 percent, at $85.69 a barrel.
A weaker U.S. dollar sent a bullish signal, making oil cheaper for holders of other currencies.
Official U.S. stockpile data from the government’s Energy Information Administration is due at 1430 GMT....

Source: Oil Prices Stable as Rising US Crude Stocks Balance Supply Concerns

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