oil
Data released by the US Energy Information Administration, today, Wednesday, showed negative data US oil stocks Clearly this week, it came worse than market expectations, as the US oil inventories index recorded an increase of about 16.3 million barrels this week, while market expectations indicated that the index would increase by about 1.5 million barrels during the same period, after recording an increase of about 2.4 million barrels. barrels in the previous week.
In terms of today’s trading, we find that US crude oil prices were clearly affected and recorded about $78.42 per barrel, recording a decrease of 0.81%. Brent crude also declined, recording about $84.95 per barrel, down by 0.77%.
The markets always monitor US oil stock data because they always affect the prices of crude oil in the markets, and the prices of petroleum products are reflected in inflation rates. It also affects industries that depend on oil. And when the pace of economic growth is strong, the demand for oil increases, and thus US oil stocks decline, while the decline in the growth rate leads to weak demand and high oil stocks, which negatively affects oil prices in the world..
