Fiji Time: 10:55 PM on Saturday 17 March

Fiji Times Logo

/ Front page / Archives » Article Index

Drop in US oil prices

Thursday, March 01, 2018

TOKYO - US oil prices extended declines into a second day after industry data showed an increase in US crude and gasoline stockpiles, with surging production in the country hampering OPEC attempts to end a global glut.

US West Texas Intermediate crude CLc1 was down 19 cents, or 0.3 per cent, at $62.82 by 0028 GMT, after falling 90 cents the previous session.

Brent crude LCOc1 was yet to trade. On Tuesday, the contract fell 87 cents to close at $66.63 a barrel.

US crude stockpiles climbed last week as imports increased, while gasoline inventories climbed and distillate stocks were drawn down, industry group the American Petroleum Institute said on Tuesday.

Crude inventories rose by 933,000 barrels in the week to 421.2 million, compared with analyst expectations for an increase of 2.1 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1.3 million barrels, the API said. Refinery crude runs dropped by 209,000 barrels per day, API data showed.

Fiji Times Front Page Thumbnail

Kaila Front Page ThumbnailFiji Times & Kaila Frontpage PDF Downloads

Use the free Acrobat Reader to view.

Code Inward TTs Outward TTs
CAD 0.65100.6320
JPY 53.691350.6913
GBP 0.35690.3489
EUR 0.40560.3936
NZD 0.69210.6591
AUD 0.64290.6179
USD 0.50070.4837



Exchange Rate updated on 16th, March, 2018

Today's Most Read Stories

  1. 'Forced to go'
  2. Man released on strict bail
  3. Speaker orders Nawaikula to withdraw accusation
  4. Former inmates raise concerns
  5. Accommodation woes
  6. A-G clarifies ownership
  7. Seaweed farming costly for women
  8. State to upgrade aging infrastructure
  9. Solar energy project
  10. Motion to review Act defeated

Top Stories this Week

  1. Sims' 100th game Thursday (15 Mar)
  2. Cessna heroes Monday (12 Mar)
  3. Picking up the pieces Tuesday (13 Mar)
  4. Men urged to marry Thursday (15 Mar)
  5. 'Forced to go' Saturday (17 Mar)
  6. Man to appear in high court for wife's death Monday (12 Mar)
  7. A star in the making Thursday (15 Mar)
  8. The faith Monday (12 Mar)
  9. Baravilala's ode to Cessna victims Thursday (15 Mar)
  10. 7s hunt Tuesday (13 Mar)