Oil in Consolidation as US Stocks Rise

摘要

Oil futures closed narrowly mixed on Wednesday, with global benchmark Brent growing its premium to its US counterpart amid government data showing a build in crude inventories in the world’s largest economy. Data from the US Energy Information Administration (EIA) show domestic crude stocks swelled by 7.1 million barrels during the week ended Mar. 1 to 452.9 million bbl (related). Unofficial reports from the American Petroleum Institute (API) had called for a build of 7.3 million bbl, and oil backed slightly off from earlier lows after the EIA’s release.