Oil prices continued to fall on Wednesday
Buz Investors Oil prices continued to fall The commodity is trading at $47.49 per barrel at 09:40 GMT this morning, 1.49% lower from the New York close. Crude oil witnessed a high of $48.24 per barrel and a low of $47.42 per barrel during the session. In the New York session yesterday, crude oil fell 1.61% to close at $48.21 per barrel, after the API reported that US crude oil inventories advanced by 4.53 million barrels to 533.6 million barrels last week. Immediate downside, the first support level is seen at $46.82 per barrel, while on the upside, the first resistance level is at $48.77 per barrel.
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Oil prices continued to fall
US crude oil inventories advanced by 4.53 million barrels
Oil prices continued to fall on Wednesday amid concerns over rising US inventories, after American Petroleum Institute weekly report. The US crude fell 1.5% to $47.6 a barrel and Brent crude dropped 1.5% to $50.1 around 12:10 PM London time, the lowest since late November. Historically, Crude oil reached an all time high of 145.31 in July of 2008 and a record low of 1.17 in February of 1946.
Crude oil is the world’s most actively traded commodity. Crude Oil prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so. This page provides – Crude oil – actual values, historical data, forecast, chart, statistics, economic calendar and news. Crude oil – actual data, historical chart and calendar of releases – was last updated on March of 2017.