Breaking News

You are here » Indian-Commodity  :  Commodities  :  Crude Oil  :  Crude oil futures settle higher on Friday


Crude oil futures settle higher on Friday

Crude oil futures settled higher on Friday after data from US Energy Information Administration (EIA) showed a much less than expected decline in US crude stockpiles last week. The EIA's weekly report showed crude inventories in US decreased by 0.046 million barrels in the week ended December 21, much less than expected. In the previous week, oil stockpiles saw a drop of 0.5 million barrels. Meanwhile, gasoline inventories rose by 3.003 million barrels last week, compared to expectations of a marginal increase of 0.03 million barrels. Distillate stockpiles were up by 0.002 million barrels in the week.

Benchmark crude oil futures for February surged 72 cents or 1.6 percent to settle $45.33 a barrel on the New York Mercantile Exchange. February Brent crude gained 4 cents or less than 0.1 percent to settle at $52.20 a barrel on London's Intercontinental Exchange.

Related News

View all news

Crude oil futures end higher as US crude supplies fall

Crude oil futures ended higher on Wednesday as a US government report revealed a second straight weekly decline in US crude supplies. The Energy Information Administration (EIA) said domestic crude supplies......

Crude oil futures settle higher as China moves to stimulate economy

Snapping their two days losing streak, crude oil futures settled higher on Tuesday as China took steps to boost its economy a day after another round of downbeat data. The People's Bank of China will increase......

Crude oil futures end lower on Monday

Extending their losses for second straight session, Crude oil futures ended lower on Monday as global equity markets pulled back on further signs of weakness in China, the world's second-largest economy.......

Top News

View all news

Medico Intercontinental gets nod for diversification into pharma industry

Medico Intercontinental has received an approval for diversification into Pharmaceutical Industry and change in main object clause of the memorandum of association (MOA) of the company. The Board of Directors......

Jet Airways defers deliveries of six Boeing 737 max aircraft

Jet Airways has deferred deliveries of six Boeing 737 max aircraft due to the payment arrears to its lessors. Jet Airways is India's premier international airline, which operates flights to India and overseas.......

Shakti Pumps extends holiday in main plant

Shakti Pumps (India) is still in process for resolving the issue and appointment of new labour contractors. Hence, the company extended the holiday for January 16, 2019 in the main plant of the company.......