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As on: Feb 24, 2019 03:43 AM
Oil Eases, Traders Eye EIA Upate
10-Oct-18   18:14 Hrs IST
Crude oil eased as the undertone in risky assets was mixed following the recent updates on global economy. Overall movement was choppy. European stocks traded lower on Wednesday, as investors monitored the latest political developments in Italy. WTI Crude is quoting at $74.62 per barrel, down 0.47% on the day. MCX Crude is quoting at Rs 5548 per barrel, down 0.47% on the day. Market is also eying the weekly inventories data from the US Department of Energy. Last week's data showed that US crude oil stockpiles rose by their most in a week since March 2017, driven in part by a build at the Cushing, Okla., hub and a drop in exports. Crude inventories jumped by 8 million barrels in the week to September 28 2018. US crude imports also stayed firm. Over the past four weeks, crude oil imports averaged around 7.8 million barrel a day, 10.2% more than the same four-week period last year, the update from Energy Information Administration (EIA) noted.

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