Crude Oil Inventories Rise, Spooking Traders
Crude oil inventories unexpectedly increased by 7.36 million barrels, contributing to a bearish market outlook.
The American Petroleum Institute (API) estimated this large build for the week ending October 10, contrary to analyst forecasts of a 120,000-barrel build.
No supply crunch yet, but underinvestment could lead to one, says Saudi Aramco.
Record US production and IEA warnings of a global supply overhang also add to the bearish outlook.
Author's note: Oil prices drop due to high inventory.
More News
- Australian Open as it happened: Great Dane Neergaard-Petersen beats Smith after last-putt heartbreaker
- BROADCASTER definition and meaning
- Nigel Farage hits out at broadcasters as racism allegations continue to mount
- Kim Kardashian’s brain scan shows ‘low activity’ and holes. I’m a brain expert and I have questions
- In Messy Conference, Your Party’s Members Rebel Against the Unelected Leadership
- Zarah Sultana MP Twitter Bio
- Doctors reveal the truth behind Kim Kardashian's 'low brain activity' and hidden aneurysm
- Construction activity shrank 'at fastest pace since COVID' ahead of budget
- 2025 Preliminary Gun Deer Hunt License Sales And Harvest Totals Now Available
- UK politics: Your Party's Sultana suggests electoral alliances