From TokenPost · · 30s
U.S. Crude Inventories Drop
U.S. oil stocks fell 3.1 million barrels as Brent crude hit $110.85.
In brief
U.S. oil stocks fell 3.1 million barrels as Brent crude hit $110.85. U.S. crude inventories decreased by 3.1 million barrels in the week ending October 16, pushing Brent crude to $110.85 per barrel. Originally reported by TokenPost.
U.S. Crude Inventories
U.S. commercial crude inventories fell 3.1 million barrels in the week ended October 16.
Brent Crude Price
Brent futures reached $110.85 a barrel, up 1.9% from Tuesday’s close.
Oil Market Impact
Higher oil prices could add to inflation and interest-rate pressures for risk-sensitive assets.
The big picture
U.S. crude inventories decreased by 3.1 million barrels in the week ending October 16, pushing Brent crude to $110.85 per barrel.
