WASHINGTON (dpa-AFX) - Oil prices were lower on Thursday after EIA data showed an increase in gasoline inventory levels in the U.S. for the week ending November 22, raising worries about fuel demand in the country, heading into the Thanksgiving holiday.
Benchmark Brent crude futures dipped 0.4 percent to $72.03 a barrel while WTI crude futures were down half a percent at $8.40.
On Wednesday, the Energy Information Administration said crude oil inventories fell by 1.8 million barrels last week after edging up by 0.5 million barrels in the previous week.
However, gasoline inventories increased by 3.3 million barrels last week and distillate fuel inventories, which include heating oil and diesel, crept up by 0.4 million barrels.
Markets also keenly await the outcome of the OPEC+ (Organization of the Petroleum Exporting Countries, and allies) meeting on December 1.
A Reuters report said that the oil cartel is likely to further delay the proposed increase in crude oil production output in the wake of China demand concerns and rising output outside OPEC block.
On the geopolitical front, the United States has carried out an airstrike targeting an Iranian-aligned militia's weapons storage facility in Syria.
The strike is in response to an Iranian-aligned attack against U.S. forces in Syria on Monday, the U.S. Central Command said in a press release.
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