U.S. Oil Prices End Off Session Lows Ahead of Weekly U.S. Supply Data
Thursday, 30 May 2019 02:50 WIB |
U.S. oil futures finished lower Wednesday, as the prolonged U.S.-China trade dispute continued to weigh on prospects for energy demand.
Prices, however, finished off the session's worst levels ahead of weekly data that are expected to reveal a decline in U.S. crude stockpiles.
The American Petroleum Institute will release its inventory report later Wednesday, while the Energy Information Administration will release its data early Thursday.
Both reports were delayed because of Monday's Memorial Day holiday.
Analysts polled by S&P Global Platts expect the EIA to report a decline of 1.4 million barrels in crude supplies for the week ended May 24.
July WTI oil fell 33 cents, or 0.6%, to settle at $58.81 a barrel on the New York Mercantile Exchange.
Source : Market Watch