Oil Edges Up On Increased US Stockpile
Umer Jamshaid Published July 21, 2016 | 01:48 PM
SINGAPORE, (UrduPoint / Pakistan Point News - 21st july,2016) - Oil prices edged up in Asia Thursday following US data showing a drop in crude inventories, a sign of a tightening supply market. Crude stockpiles fell by 2.3 million barrels last week -- the ninth week in a row -- data from the US Department of Energy showed.
This helped offset a surprise rise in gasoline inventories over the summer -- traditionally the peak demand season for motor fuel. At about 0330 GMT, US benchmark West Texas Intermediate was up 10 cents, or 0.22 percent, to $45.85, while North Sea Brent crude was up 16 cents, or 0.34 percent, to $47.33.
Recent Stories
Punjab CM inaugurates Pakistan’s first Virtual Women Police Station
Dutch model Donny Roelvink embraces Islam
Experts raise concerns over introduction of 10-stick packs
Iranian president arrives in Karachi
Law Minister expresses Govt's resolve to address issue of missing persons
Rizwan’s batting order may be changed: Sources
Nawaz Sharif to visit Guangzhou exhibition in China
FM Dar not traveling to China: Foreign Office
PM takes notice of deliberate delay in tax cases
Iranian President visits Allama Iqbal’s mausoleum
Iranian President arrives in Lahore today
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 23 April 2024
More Stories From Business
-
Afghan trade delegation, FPCCI discuss bilateral trade
4 hours ago -
With knowledge economy, Mauritius is a stable economy: Envoy
5 hours ago -
Aurangzeb reiterates govt's resole to reduce poverty, promote sustainable development
5 hours ago -
Finance minister meets Chairman Anjuman-e-Tajran; discuss issues of business community
6 hours ago -
Govt ensuring digital access as fundamental right: Ahsan Iqbal
6 hours ago -
WHO delegation calls on Chairman FBR
6 hours ago
-
Bill drafted to regulate veterinary sciences and animal welfare: Tanveer
6 hours ago -
General Motors lifts 2024 profit forecast after strong Q1
7 hours ago -
Pakistan aims to reach $3 trillion economy by 2047: Ahsan Iqbal
8 hours ago -
Digital technologies play significant role in economic growth: Shaza
8 hours ago -
Experts raise concerns over introduction of 10-stick packs
8 hours ago -
SACM directs making technical institutes as skill imparting centres
9 hours ago