Oil prices give up advance as U.S. crude stockpile surges
Publishing timestamp: 2024-02-14 12:52:54
Summary
Crude oil futures fell as stockpiles surged in the US and demand decreased. The drop in oil prices came after commercial crude oil inventories in the US increased by 12 million barrels, while oil demand dropped. Earlier in the trading session, oil prices had gained 1% due to tensions in the Middle East. However, concerns about oversupply and falling demand have caused oil prices to repeatedly give up their gains.
Sentiment: NEUTRAL
Keywords: investment strategy, markets, united states, william j. burns, business news, wti crude (mar'23), ice brent crude (apr'23), breaking news: markets, oil and gas, israel,
Source: https://www.cnbc.com/2024/02/14/crude-oil-prices-today.html