Mon January 22, 2018
Advertisement
Can't connect right now! retry

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

Business

REUTERS
December 7, 2017

Share

Advertisement

Oil dips

Oil dips

Tokyo: Oil prices dipped on Wednesday, as refined product inventories in the United States rose in what the market interpreted as a sign of lacklustre demand.
Brent crude futures, the international benchmark for oil prices, were down 24 cents, or 0.4 percent, at $62.62 a barrel as of 0713 GMT. U.S. West Texas Intermediate (WTI) crude futures were at $57.37 a barrel, down 25 cents, or 0.4 percent, from their last settlement.
Traders said prices fell after an American Petroleum Institute (API) report late on Tuesday that showed a 9.2 million barrel rise in gasoline stocks in the week ended Dec. 1, and an increase of 4.3 million barrels in distillate inventories, which include motor diesel and heating oil.
The perception that the higher fuel stocks pointed to weak demand outweighed a drop in crude inventories by 5.5 million barrels to 451.8 million barrels, traders said.

Advertisement

Comments

Advertisement
Advertisement

Topstory

Opinion

Newspost

Editorial

National

World

Sports

Business

Karachi

Lahore

Islamabad

Peshawar