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Oil falls 2% to the lowest level in 3 weeks due to a jump in US inventories
10.22.2015
Oil prices fell futures contract about 2 percent to the lowest in three weeks with the announcement of the US government a larger-than-expected increase in crude stocks, although the big drop in gasoline stocks and derivatives prevented greater losses of crude for decades.
US Energy Information Administration said commercial crude oil inventories in the United States jumped 8 million barrels last week, or more than twice the average expected increase in a Reuters poll, amounting to 3.9 million bpd.
The figure is also high for the increase cited by the American Petroleum Institute, amounting to 7.1 million bpd.
And losses increased oil prices in the wake of the announcement of the increase, but rebounded from their lowest levels by the fall of 1.5 million barrels in gasoline stocks also MEMRI report of the Energy Information Administration and low stocks of derivatives increased by 2.6 million barrels.
The Reuters poll had forecast a decrease of 900 thousand barrels in gasoline stocks and a decline of 1.3 million barrels in stocks of derivatives.
US crude ended the decades to the nearest trading session low of $ 1.09 or 2.4 percent to maturity are recorded at the settlement of $ 45.20 a barrel. Earlier in the session it fell to its lowest level in three weeks at $ 44.86.
And closed the global Brent crude contracts for Brent low 86 cents or 1.8 percent to 47.85 dollars a barrel after earlier recorded the lowest level since early October at 47.50 Dolar.anthy 29/4 e
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