Growth in US crude stockpiles press down oil prices

Brent and WTI had stabilized after a fall Monday, but prices are now on the decline.

Photo: Weatherford PR

The price of US WTI crude has decreased to under USD 68 per barrel. An industry report published Tuesday evening shows that US crude stockpiles grew last week, despite that analysts predicted a significant reduction of US oil production, writes both Reuters and Bloomberg News.

Both WTI and Brent had otherwise stabilized after a dive Monday, following headlines about a turbulent week in Venezuelan oil production. Analysts then projected a decline in US crude stockpiles at around 4.1 barrels.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

New developer has 11GW offshore wind ready from inception

Profiles from European Energy, Ørsted and Centrica team up to found a new company aiming to develop solar, onshore wind, offshore wind and do power trading. Theres a hole in the market for us right now — in five years it will be closed, says director.

CIP hires Dutch profile

Current CFO at TenneT Otto Jager will join CIP as partner, with a primary focus on flagship funds.

Further reading

Related articles

Latest News

See all jobs