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Crude oil futures end lower on Thursday

22 Jan 2021 Evaluate

Crude oil futures ended lower on Thursday after data from the American Petroleum Institute showed an increase in U.S. crude stockpiles last week. The American Petroleum Institute report showed an unexpected 2.6 million-barrel build in US commercial crude inventories in the week ended January 15, contrary to predictions for a fall of 1.2 million barrels. The weekly inventory data from US Energy Information Administration will be out on Friday, two days later than usual due to holiday on Monday for Martin Luther King Jr. Day and the presidential inauguration on Wednesday.

Crude oil futures for March fell $0.18 or 0.3 percent to settle at $53.13 barrel on the New York Mercantile Exchange. March Brent crude lost $0.03 to settle at $ 56.05 a barrel on London's Intercontinental Exchange.

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