|
|
Crude oil market extended gains on the EIA reportCrude oil market extended gains on the EIA report |
|
International benchmarks for crude oil settled higher on Wednesday, 2 November 2022 as traders decided to focus on the latest US crude inventory report from the EIA, shrugging off the 0.75% interest rate hikes from the FED. The EIA report showed that both commercial crude and gasoline inventories in the US fell 3.1 million barrels and 1.3 million barrels respectively last week, signalling the steady demand condition.
Brent gained $1.51 to close at $96.16/barrel.
WTI added $1.63 to close at $90/barrel.
