COMMODITY
Crude oil futures end lower on Wednesday
Nov-21-2024

Crude oil futures ended lower on Wednesday on weak demand and data showing an increase in U.S. crude inventories in the week ended November 15th. Data from U.S. Energy Information Administration (EIA) showed crude oil inventories crept up by 0.5 million barrels last week, after rising by 2.1 million barrels in the previous week. At 430.3 million barrels, U.S. crude oil inventories remain about 4% below the five-year average for this time of year. The report also said gasoline inventories rose by 2.1 million barrels last week but are about 4% below the five-year average for this time of year.

Benchmark crude oil futures for December delivery fell $0.52 or about 0.75 percent to settle at $68.87 a barrel on the New York Mercantile Exchange. Brent crude for January delivery dropped $0.50 or about 0.68 percent to settle at $72.81 a barrel on London's Intercontinental Exchange. 


  RELATED NEWS >>