Earlier today, a report from the
Gasoline stocks rose by 0.7 million barrels last week, while analysts anticipated a drop of 1.0 million barrels. Inventories of distillate, including heating fuel, rose 0.2 million barrels, with analysts looking for an increase of 1.2 million barrels.
Late Tuesday, an
Concerns of disruption of crude oil supplies over the ongoing conflict in the
Reports indicate the Iraqi conflict will likely remain confined to north of the country also drove the prices downward.
Light Sweet Crude Oil futures for August delivery, the most actively traded contract, dropped
Crude prices for August delivery scaled a high of
On Tuesday, crude oil futures ended lower, extending losses to an eighth successive session, amid easing fears of production disruption in
The dollar index, which tracks the US unit against six major currencies, traded at 80.12 on Wednesday, down from its previous close of 80.17 late Tuesday in North American trade. The dollar scaled a high of 80.23 intraday and a low of 80.02.
The euro traded higher against the dollar at
In economic news, Chinese consumer prices inflation slowed in June from a 4-month high, as food prices increased at a slower rate, a report from the
Consumer prices increased 2.3% year-on-year in June following the 2.5% increase in May. Economists had expected prices to rise 2.4%.
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