Oil Extends Gain With Industry Report Pointing to Stockpile Drop_老虎社区_美港股上老虎

Oil Extends Gain With Industry Report Pointing to Stockpile Drop

Bloomberg2021-12-22

U.S. crude inventories decreased by 3.67 million barrels: API WTI futures climb toward $72 after surging 3.7% on Tuesday Oil extended gains after an industry report pointed to another decline in U.S....

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Johnhz
·2021-12-22
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The American Petroleum Institute reported crude stockpiles declined by 3.67 million barrels last week, according to people familiar with the figures. If confirmed by government data later on Wednesday, it would be a fourth weekly draw.\nNatural gas prices in Europe surged after Russia curbed flows, forcing France -- usually a power exporter -- to boost electricity imports and burn oil to keep the lights on. Freezing temperatures are exacerbating the crunch.\n\nOil is poised to cap a yearly gain following a rebound from the pandemic, but the rally has faltered over the past couple of months in part due to demand concerns after the emergence of the omicron variant of the virus. 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