You are here: Home » Reuters » News
Business Standard

Oil holds around $52 before U.S. inventory report

Reuters  |  LONDON 

By Alex LawlerLONDON (Reuters) - Oil held around $52 a barrel on Wednesday as an industry report showing a large drop in U.S. crude stocks countered doubts that compliance with OPEC-led supply cuts will increase.U.S. crude inventories last week fell by 7.8 million barrels, more than expected, but gasoline inventories rose unexpectedly, data from the American Petroleum Institute (API) showed on Tuesday ahead of Wednesday's official numbers.Brent crude, the global benchmark, was unchanged at $52.14 at 0828 GMT, after two days of decline. U.S. West Texas Intermediate (WTI) crude added 4 cents at ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Wed, August 09 2017. 14:20 IST