The drop of more than 7 million barrels, reported by the US Energy Information Administration’s weekly inventory, has limited effect on Wednesday.
Around 16:25, while the WTI (American) reference registered a high of 1.21%, Brent retreated 0.51%.
Regarding the international reference, expectations about the nuclear agreement between Iran and the United States predominate, as well as fears that a slowdown in China will end up triggering a global recession.
Oil companies on the rise
Oil companies operate on the rise, against the price of Brent.
After the market closed in London, the British BP (BP) advanced 1.03% and Shell (SHEL) rose 0.62%. In New York, ExxonMobil (XOM) and chevron (CVX) earn, respectively, 1.08% and 0.98%.
Petrobras (PETR4) operates up 1.64%.
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Source: Moneytimes
I am an author at Global happenings and I mostly cover automobile news. In my time working in the automotive industry, I have developed a keen interest in the latest developments and trends. My writing skills have also allowed me to share my knowledge with others through articles and blog posts.
