Trending Articles- Silver Price Forecast: Trump Signals Rapid Progress in US-Iran Negotiations, Bulls Target $90
- Gold Falls Below $4,400 for First Time in Two Months. Institutions Lower Gold Price Forecasts as Market Expects PCE to Approach 4%
- Forex Today: Yet to be confirmed US-Iran MOU caps US Dollar's upside
- Bitcoin loses $73,000 as US-Iran escalation, ETF outflows deepen crypto market sell-off
- Gold declines below $4,500 as Iran tensions stoke inflation fears and bolster Fed hike bets
- Fed’s Powell says credibility lost if President can fire officials
Investing.com -- U.S. crude oil futures inched off lows post-settlement trading Wednesday after the American Petroleum Institute reported a larger-than-expected decline in weekly domestic crude stocks.
Crude Oil WTI Futures, the U.S. benchmark, traded at $69.30 a barrel following the report after settling down 1.6%% at $69.20 a barrel.
U.S. crude inventories decreased by about 7.4M barrels for the week ended Aug. 30, compared with a decline of 3.4M barrels reported by the API for the previous week. Economists were expecting a decline of just 900,000 barrels.
Gasoline stockpiles fell by about 300,000 barrels, while distillate inventories -- the class of fuels that includes diesel and heating oil -- fell by 400,000 barrels.
The official government inventory report is due Thursday at 10:30 a.m. EST (1530 GMT).
Read more
* The content presented above, whether from a third party or not, is considered as general advice only. This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.
