Trade n Trend

Home » Crude Oil » Crude Oil under pressure Excess supply fears

Crude Oil under pressure Excess supply fears

Crude Oil fell as a record build in U.S. crude stocks stoked concerns about global oversupply, outweighing moves by oil producers including Saudi Arabia and Russia to cap oil output.

The US Energy Information Administration (EIA) data released yesterday showed inventories rose by 2.1 million barrels last week, to a peak of 504.1 million barrels, the third week of record highs in the past month.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: