Read the Beforeitsnews.com story here. Advertise at Before It's News here.

By MTECHTIPS
Contributor profile | More stories

Story Views
Now:
Last hour:
Last 24 hours:
Total:

MTECHTIPS;-Oil pulls back from 7-week highs as focus shifts to U.S. stockpile data

Thursday, February 23, 2017 2:17

% of readers think this story is Fact. Add your two cents.

MTECHTIPS;-Oil pulls back from 7-week highs as focus shifts to U.S. stockpile data

MTECHTIPS;- Oil prices fell sharply during North American morning hours on Wednesday, pulling back from the prior session’s seven-week highs as investors looked ahead to weekly data from the U.S. on stockpiles of crude and refined products. Industry group the American Petroleum Institute is due to release its weekly report at 4:30 PM ET (21:30 GMT) later on Wednesday. Official data from the Energy Information Administration will be released Thursday, amid forecasts for an oil-stock rise of 3.3 million barrels. The reports come out one day later than usual due to Monday’s President’s Day holiday. Last week’s numbers showed U.S. output helped boost crude and gasoline inventories to record highs, feeding concerns about a global glut. Crude oil for April delivery on the New York Mercantile Exchange lost 67 cents, or around 1.2%, to $53.67 a barrel by 9:35 AM ET (14:35 GMT). The U.S. benchmark reached $55.03 on Tuesday, a level not seen since January 3. Elsewhere, Brent oil for April delivery on the ICE Futures Exchange in London shed 71 cents, or about 1.2%, to $55.95 a barrel, after touching $57.31 a day earlier, just shy of its highest level of the year. Oil prices rallied after OPEC Secretary-general Mohammad Parkinson said compliance rate among cartel members who agreed to participate in the production cut deal is expected to increase above the current 90%.

Oil inventories would decline further this year, he added.

MTECHTIPS-Apply For 2 Days Free Trails Equity & Commodity tips

WWW.MTECHTIPS.COM

07489294118-119

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)

Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!

Nascent Iodine - Promotes detoxification, mental focus and thyroid health.

Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).

Comments

Online:
Visits:	1,602,875,849
Stories:	8,148,275