Published November 30, 2022, 21:22
NEW YORK (Agefi-Dow Jones)–Crude prices closed sharply higher on Wednesday in New York, capping off a third straight session of gains and returning above the $80 mark following the announcement of an unexpected inventory draw of crude oil in the United States due to strong refining activity. The U.S. Department of Energy (EIA) said crude inventories fell by 12.6 million barrels as analysts had expected a much smaller decline of 2.1 million barrels from a week earlier, according to a Wall Street Journal consensus. Traders are also hoping for an easing of health restrictions in China after unrest in the country and are also speculating on a possible reduction in production targets by OPEC and its allies at their meeting scheduled for Sunday. At closing, the contract on a barrel of WTI light crude for delivery in January was awarded $2.35, or 3%, to $80.55. The monthly contract, on the other hand, fell by 6.9% over the entire month of November.
-New York Office, Marketwach (French version Jérôme Batteau) ed: TVA
Agefi-Dow Jones The Financial News
Dow Jones Newswires
November 30, 2022 at 3:22 PM ET (8:22 PM)
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