博彩平台推荐:Oil slips as U.S. crude stockpiles rise, eyes on U.S. inflation data
KUALA LUMPUR: Oil prices fell on Wednesday ahead of a key U.S. report on inflation and after industry data showed U.S. crude inventories unexpectedly rose last week, signaling a potential hiccup in demand.
Brent crude futures fell 74 cents, or 0.8%, to $95.57 a barrel at 0651 GMT.
U.S. West Texas Intermediate crude futures fell as much as $1.13 to $89.37. It was last down 88 cents, or 1%, at $89.62 a barrel.
"The oil price and the Asian market all showed a weak trend," said Leon Li, a Shanghai-based analyst at CMC Markets, adding that market uncertainty over U.S. July inflation data "limits the rebound of oil prices today."
The Consumer Price Index (CPI) report will be released at 1230 GMT on Wednesday. U.S. consumer prices are expected to have risen at a slower pace in July due to a sharp drop in the cost of gasoline, but that is not expected to stop the Federal Reserve from at least several more sharp interest rate hikes which could curb economic activity and fuel demand.
Meanwhile, U.S. crude stocks rose by about 2.2 million barrels for the week ended Aug. 5, according to market sources citing American Petroleum Institute figures. Analysts polled by Reuters had forecast that crude inventories would rise by around 100,000 barrels.,,博彩平台推荐（www.99cx.vip）是一个开放皇冠体育网址代理APP下载、皇冠体育网址会员APP下载、皇冠体育网址线路APP下载、皇冠体育网址登录APP下载的官方平台。博彩平台推荐上最新博彩平台推荐登录线路、博彩平台推荐代理网址更新最快。博彩平台推荐开放皇冠官方会员注册、皇冠官方代理开户等业务。
Official government data is due on Wednesday at 10:30 a.m. EDT.
"Whatever crude demand destruction that occurs from a weakening global economy won't be able to drag down oil prices much lower given how low the supply outlook remains," said Edward Moya, senior market analyst at OANDA.
"Much attention is falling on Iran nuclear deal talks and that could be a wildcard in providing much needed supplies."
The European Union on Monday put forward a "final" text to revive the 2015 Iran nuclear deal which would boost Iran's crude exports. A senior EU official said he expected a final decision on the proposal within "very, very few weeks".
Adding to supplies, the operator of the giant Kashagan oilfield in Kazakhstan has started gradually restoring output after an emergency shutdown last week caused by a gas leak. The Kashagan oilfield produces about 300,000 barrels per day.
Though concerns over a potential global recession have weighed on oil futures recently, U.S. oil refiners and pipeline operators expect energy consumption to be strong for the second half of 2022, according to a Reuters review of company earnings calls. - Reuters