Breaking News

You are here » Indian-Commodity  :  Commodities  :  Crude Oil  :  Crude oil futures edge lower on trade fears

05-Apr2018

Crude oil futures edge lower on trade fears

Crude oil futures edged slightly lower on Wednesday on concerns over an escalating trade war between the U.S. and China. However, the decline was trimmed after government data showed an unexpected drop in U.S. crude inventories. Oil trimmed its decline after the U.S. Energy Information Administration (EIA) released its weekly petroleum status report showing that U.S. commercial crude inventories decreased by 4.6 million barrels last week. That's roughly in line with yesterday's report from the American Petroleum Institute, which reported a draw of 3.3 million barrels.

Benchmark crude oil futures for May delivery declined 14 cents or 0.2 percent to settle at $63.37 a barrel on the New York Mercantile Exchange. May Brent crude lost 10 cents 0.2 percent to settle at $68.02 a barrel on London's Intercontinental Exchange.


Related News

View all news

Crude oil futures settle lower as US supplies climb for a fifth straight week

Crude oil futures settled lower on Thursday after a US government report revealed that domestic supplies climbed for a fifth straight week as production jumped to a record level. The Energy Information......

Crude oil futures end higher Wednesday

Crude oil futures ended higher on Wednesday as signs of tighter global crude supplies outweigh pressure from a continued rise in US production. Nigerian President Muhammadu Buhari is reportedly considering......

Crude oil futures end higher as supplies tighten

Crude oil futures ended higher on Tuesday amid reports of falling Saudi Arabian exports. Crude-oil volumes shipped from major producer Saudi Arabia fell in the first half of February to 6.2 million barrels......

Top News

View all news

Syndicate Bank enters into partnership with Srei Equipment Finance

Syndicate Bank has entered into partnership with Srei Equipment Finance to jointly provide financing for construction and farm equipment. Under the arrangement, Syndicate Bank would leverage on its low-cost......

Tata Motors to supply 80 Electric buses to West Bengal Transport Corporation

Tata Motors will supply 80 Electric buses to the West Bengal Transport Corporation (WBTC). The company has already supplied 20 Ultra Electric 9/9m AC E-buses, with remaining 20 9/9m AC E-buses scheduled......

BEL signs teaming agreement with Hughes India for Helicopter Satcom Solutions

Bharat Electronics (BEL) and Hughes India have entered into a Teaming Agreement for design, development, supply, installation, integration and commissioning of Satellite Communication solutions for helicopters......