TeleTrade - Analytics

    TeleTrade

    888.00 6.50/10
    63% of positive reviews
    Real

    05.08.2015 06:54 Oil prices rebounded ahead of U.S. crude inventories data

    West Texas Intermediate futures for September delivery rebounded to $46.03 ( 0.63%), while Brent crude climbed to $50.32 ( 0.66%). Investors are waiting for data from the U.S. Energy Information Administration to assess condition of the global supply glut. A report from the American Petroleum Institute showed on Tuesday that the country's crude inventories declined by 2.4 million barrels to 459.7 million barrels last week.

    At the same time a stronger dollar makes the dollar-denominated commodity for importers holding other currencies.

    OPEC members seem to be determined to maintain output at record levels.

     


    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree