Oil recovers after slide as US inventory drop, storm support

Quick Summary:

LONDON :Oil climbed more than 1 per cent on Wednesday, paring some of the previous day's losses, as a drop in U.S.crude inventories and concern about Hurricane Francine disrupting U.S.output countered concerns about weak global demand.U.S.crude stocks fell by 2.

Bureau of Safety and Environmental Enforcement (BSEE) said on Tuesday.

Following Tuesday's report from the API, an industry group, official inventory figures from the U.S.government are due out at 1430 GMT.

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Category: EconomyBusiness

Markets: SingaporeMexicoUnited States

Topics: Mexico Gasoline Cent Output Barrels Inventories Francine Stocks Crude Tuesday Million

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-11 @ 16:22:56 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 403 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 27 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 22457065

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