Oil Edges Up On Increased US Stockpile
Umer Jamshaid Published July 21, 2016 | 01:48 PM
SINGAPORE, (UrduPoint / Pakistan Point News - 21st july,2016) - Oil prices edged up in Asia Thursday following US data showing a drop in crude inventories, a sign of a tightening supply market. Crude stockpiles fell by 2.3 million barrels last week -- the ninth week in a row -- data from the US Department of Energy showed.
This helped offset a surprise rise in gasoline inventories over the summer -- traditionally the peak demand season for motor fuel. At about 0330 GMT, US benchmark West Texas Intermediate was up 10 cents, or 0.22 percent, to $45.85, while North Sea Brent crude was up 16 cents, or 0.34 percent, to $47.33.
Recent Stories
Israel carries out attack inside Iran, report US media
Saudi Assistant Minister of Defence calls on army chief
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 19 April 2024
Today Gold Rate in Pakistan 19 April 2024
Rock-solid Ruud racks up season-leading win in Barcelona
At UN, Iran says it will make Israel 'regret' reprisals
G7 hears calls for 'critical' Ukraine aid
EU seeks to leverage might to confront China, US challenge
5 Customs officials martyred as their vehicle ambushed by terrorists in D I Khan
Pak-New Zealand match called off due to rain
NHA restores traffic on roads affected by recent rains in Balochistan
China to fully support Pakistan's efforts against terrorism: Ambassador Jiang
More Stories From Business
-
Food exports grew by 48.17% in 09 months, reached $5.651 bln
7 minutes ago -
Exchange rates for currency notes
3 hours ago -
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 19 April 2024
3 hours ago -
Foreign exchange rates
3 hours ago -
Today Gold Rate in Pakistan 19 April 2024
4 hours ago -
Oil jumps more than 3% on Middle East worries
4 hours ago
-
Tokyo's Nikkei index tumbles 3% in morning trade
4 hours ago -
Pakistan's total liquid foreign reserves reach $ 13.37 billion
15 hours ago -
Stock markets rise as traders consider US rate outlook
15 hours ago -
Business community alarmed by alleged Cigarette tax violations
16 hours ago -
High FED on cigarettes demonstrates positive impact
16 hours ago -
PTCL posts 14 % revenue growth
15 hours ago