empty
 
 

2021.08.2511:20:00UTC+00Oil Futures Slightly Higher Ahead Of EIA Data

Crude oil futures are higher Wednesday morning, extending gains from the previous two sessions, albeit just marginally, as traders await weekly inventory data from Energy Information Administration (EIA).

Worries about outlook for energy demand have eased a bit following the U.S. drug regulator giving its final approval for the Pfizer-BioNTech COVID vaccine, and reports saying new cases of the virus are showing signs of dropping in China and a few other countries.

West Texas Intermediate Crude oil futures for October are up $0.11 or 0.16% at $67.65 a barrel.

Brent crude futures are gaining $0.23 or 0.33% at $70.64 a barrel.

The American Petroleum Institute's latest crude oil inventory data released on Tuesday showed a draw of 1.622 million barrels for the week ending August 20.

The data also said gaoline stockpiles dropped by about 1 million barrels last week.

EIA's data is due out at 10:30 AM ET.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback