ZCZC
BCN-18
US-ENERGY-OIL-PRICE
Oil prices decline on rising U.S. inventories
NEW YORK, Dec. 12, 2019 (BSS/Xinhua) – Oil prices extended losses on
Wednesday after data showed an unexpected build in U.S. crude inventories.
U.S. commercial crude oil inventories increased by 0.8 million barrels
from the previous week, the U.S. Energy Information Administration said on
Wednesday.
At 447.9 million barrels, U.S. crude oil inventories were about 4 percent
above the five-year average for this time of year.
The West Texas Intermediate (WTI) for January delivery decreased 0.48 U.S.
dollar to settle at 58.76 dollars a barrel on the New York Mercantile
Exchange. Brent crude for February delivery erased 0.62 dollar to close at
63.72 dollars a barrel on the London ICE Futures Exchange.
BSS/XINHUA/HR/1442