OIL PRICES TURN HIGHER AHEAD OF US SUPPLY REPORTS -- MARKET TALK
26 September 2023, 19:14
1214 ET - US crude futures have wiped away early-morning declines to trade 1% higher at $90.57 a barrel, putting them back within $1 of a 10-month-high. The move higher may suggest investors are re-establishing positions ahead of a pair of weekly US oil inventory reports, first from trade group API at 4:30pm ET, and then the official EIA report tomorrow morning. A weekly survey by WSJ is forecasting small, across-the-board declines in US inventories of crude, gasoline and diesel fuels. If those predictions are confirmed, it may give oil prices another boost higher toward fresh 10-month highs that were reached last week. Brent crude also turns higher, up 0.8% at $94.03.
(dan.molinski@wsj.com) (END) Dow Jones NewswiresSeptember 26, 2023 12:14 ET (16:14 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.
26 September 2023, 19:14
1214 ET - US crude futures have wiped away early-morning declines to trade 1% higher at $90.57 a barrel, putting them back within $1 of a 10-month-high. The move higher may suggest investors are re-establishing positions ahead of a pair of weekly US oil inventory reports, first from trade group API at 4:30pm ET, and then the official EIA report tomorrow morning. A weekly survey by WSJ is forecasting small, across-the-board declines in US inventories of crude, gasoline and diesel fuels. If those predictions are confirmed, it may give oil prices another boost higher toward fresh 10-month highs that were reached last week. Brent crude also turns higher, up 0.8% at $94.03.
(dan.molinski@wsj.com) (END) Dow Jones NewswiresSeptember 26, 2023 12:14 ET (16:14 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.