Oil News

Crude Oil is trading at $1014 as of 8:10am, London Time. Crude’s Pool-Position is 97% Long, meaning that most Finotec clients are buying the commodity.

Crude oil declines as inventories come out higher than expected

Crude Oil is trading at $1014 as of 8:10am, London Time. Crude’s Pool-Position is 97% Long, meaning that most Finotec clients are buying the commodity.

Oil prices extended losses and fell closer toward $68 a barrel on Thursday, as data showing an unexpectedly high build up in U.S. oil and products stockpiles reminded traders that oil prices may have run ahead of the demand fundamentals. The U.S. Energy Information Administration reported commercial stockpiles of crude rose 2.8 million barrels in the week to Sept. 18, against analysts’ expectations of 1.5 million barrels fall. Crude Oil is trading at $1014 as of 8:10am, London Time. Crude’s Pool-Position is 97% Long, meaning that most Finotec clients are buying the commodity.