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Crude oil futures end marginally lower on rising US crude stockpiles

25 Nov 2021 Evaluate

Crude oil futures ended marginally lower on Wednesday after rising US crude stockpiles in the week ended November 19. Data from the Energy Information Administration (EIA) showed crude stockpiles in the US increased by 1.017 million barrels last week. The American Petroleum Institute reported on Tuesday that crude inventories in the US rose by 2.31 million barrels in the week ending November 19. Further, oil prices were also tempered by coronavirus infections that broke records in parts of Europe, prompting new curbs on movement.

Benchmark crude oil futures for January delivery fell $0.11 or 0.14 percent to settle at $78.39 a barrel on the New York Mercantile Exchange. Brent crude for January delivery lost $0.06 or 0.7 percent to settle at $82.25 a barrel on London's Intercontinental Exchange.

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