Oil prices moved lower on Thursday
Oil prices moved lower on Thursday
International benchmarks for oil prices slipped on Thursday (7 April) as investors dismissed the draw back in the US commercial inventories reported by the US Department of Energy Wednesday. The EIA said that crude oil inventories are down, however, total stocks of oil and all petroleum products grew again from already historic highs, up 1.1 million barrels to 1.357 billion barrels, cited the WSJ. Besides, the market is increasingly doubting the result of the meeting between major oil producers this 17 April and that oil prices might fluctuate depending on which OPEC member say what.
WTI closed at $37.26/b (-$0.49) May delivery
Brent closed at $39.43/b (-$0.41) June delivery
Kindly visit the Daily Price section for the latest import and local prices to/in China and Southeast Asia market.