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A sharp rise in oil inventories dragged oil prices down sharply on Wednesday

 Last Update: 2022-11-26
 Source: Internet
 Author: User

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According to Dow Jones on October 18, oil prices closed sharply lower on Wednesday as U.
S.
oil inventories rose sharply again and the stock market was volatile, raising concerns
that global oil demand may begin to decline.

Light sweet crude futures for November delivery on the New York Mercantile Exchange settled down 3 percent at $69.
75 a barrel, ending a three-session winning streak
.
Global benchmark Brent crude futures settled down 1.
7 percent at $80.
05 a barrel
.

A key factor in Wednesday's decline in crude oil futures was the pessimistic
performance of the weekly crude oil report released by the Energy Information Administration (EIA).

In addition to the data, analysts point to a closer link between oil prices and stocks, suggesting that investors may be more averse to risky assets
such as oil and other commodities.

petroleum

A key factor in Wednesday's decline in crude oil futures was the pessimistic
performance of the weekly crude oil report released by the Energy Information Administration (EIA).

In addition to the data, analysts point to a closer link between oil prices and stocks, suggesting that investors may be more averse to risky assets
such as oil and other commodities.

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