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U.S. oil price declines ahead of data

Xinhua,February 22, 2018 Adjust font size:

NEW YORK, Feb. 21 (Xinhua) -- U.S. oil price decreased on Wednesday as investors were awaiting the closely-watched inventory data in the country.

U.S. crude inventory data is due to release on Thursday and stockpiles are expected to have added nearly 1.3 million barrels last week, according to Reuters.

Moreover, a strengthening U.S. dollar also weighed on the market on Wednesday, as a stronger greenback made the dollar-priced oil less attractive for holders of other currencies.

The West Texas Intermediate for April delivery was down 0.11 U.S. dollar to settle at 61.68 dollars a barrel on the New York Mercantile Exchange, while Brent crude for April delivery gained 0.17 dollar to close at 65.42 dollars a barrel on the London ICE Futures Exchange. Enditem

 

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