Oil Prices Continue to Recover Amid Falling U.S. Warehouses

  • International
  • 30 October 2024
1

Oil prices continued their recovery path during the trading session on Wednesday, the thirtieth of October, after sharp losses on Monday, in light of the easing of fears related to the targeting of oil facilities in Iran.

Oil prices suffered losses of as much as 6 percent on Monday, with Israel's strike on Iran over the weekend untouched Tehran's oil infrastructure.

In a separate context, according to data from the American Petroleum Institute, crude oil and fuel inventories in America fell last week by about 573,000 barrels, gasoline inventories fell by 282,000 barrels, while distillate inventories fell by 1.46 million barrels.

Source (CNBC Arabia Website, Edited)

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