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Oil Holds Losses Near $65 After Surprise Gain in U.S. Stockpiles
Thursday, 16 August 2018 07:45 WIB | ENERGY |Minyak WTIMinyak jenis Brent

Oil held losses near $65 a barrel after government data showed a surprise gain in U.S. stockpiles.

Futures in New York were little changed after a 3 percent decline on Wednesday. U.S. crude inventories rose by 6.81 million barrels last week, while those at the Cushing storage hub in Oklahoma expanded for the first time since May, the Energy Information Administration reported.

West Texas Intermediate crude for September delivery traded at $64.81 a barrel on the New York Mercantile Exchange, down 20 cents, at 9:15 a.m. in Tokyo. The contract declined $2.03 to $65.01 on Wednesday. Total volume traded was about 74 percent below the 100-day average.

Brent for October settlement traded at $70.70 a barrel on the London-based ICE Futures Europe exchange, down 6 cents. Prices dropped $1.70 to $70.76 on Wednesday. The global benchmark traded at a $6.44 premium to WTI for the same month.

Bloomberg

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