View full page at energyexch.com

 

Oil Slumps as Iran Nuclear Talks Resurface, US Crude Stocks Rise

From investing.com

Crude prices fell 2% on Wednesday as the possibility of Iran holding nuclear talks with Western powers returned to headlines, amid Tehran’s bid to free itself from U.S. sanctions prohibiting the sales of its oil to the world. A weekly build in U.S. crude stockpiles also weighed on the market as the EIA, or Energy Information Administration, reported an inventory level double to market expectations. The rise came as refiners boosted raw oil imports last week to make more products like gasoline and diesel, while exporters of crude shipped out less. U.S. crude’s West Texas Intermediate benchmark settled down $1.99, or ... (full story)

Story Stats

  • Posted:
  • Category: Fundamental Analysis