NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

Oil futures lower ahead of API data

Published 24/05/2016, 12:57
LCO
-
CL
-


Investing.com - Oil futures remained under pressure on Tuesday ahead of the release later in the day of the latest weekly U.S. inventory data by the American Petroleum Institute.
U. S. crude futures for July delivery were down 19 cents, or 0.40% at $47.89 a barrel at 0645ET. Brent crude futures fell 0.54% to $48.09 a barrel

According to a survey by Reuters, U.S. crude stocks are expected to have fallen by 2.5 million barrels in the latest reporting week, providing some support for oil.
The dollar remained well supported in the wake of hawkish comments by Fedral reserve officials outlining the possible of two or three rate hikes by the Fed this year. A stronger dollar weakens demand for oil.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.