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Oil prices fluctuate amid mixed data

Thu, Oct 01, 2015, 09:53 AM
New York, Oct 1: Oil prices wavered as US crude data came in mixed.

The West Texas Intermediate for November delivery moved down 14 cents to settle at $45.09 a barrel on the New York Mercantile Exchange, while Brent crude for November delivery increased 14 cents to close at $48.37 a barrel on the London ICE Future Exchange on Wednesday, Xinhua reported.

US crude production lost 40,000 barrels to 9.096 million barrels a day last week, according to the weekly report issued by the Energy Information Administration (EIA) on Wednesday.

US crude supplies of last week unexpected gained 3.9 million barrels to 457.9 million barrels, 96 million barrels more than one year before.

Inventories at Cushing, Oklahoma, the delivery point for the US contract, lost 1 million barrels to 53 million barrels.

The EIA projected in an early report that US crude oil production averages 9.2 million barrels per day in 2015 and 8.8 million barrels per day in 2016.
Agency: IANS

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