Crude oil futures ended lower on Thursday following the release of the Energy Information Administration's report on oil inventories in the week ended December 29th. While the report showed a bigger than expected decrease in crude oil inventories, gasoline and distillate fuel inventories moved sharply higher. The report said crude oil inventories slumped by 5.5 million barrels after tumbling by 7.1 million barrels in the previous week. Street had expected inventories to fall by 3.7 million barrels. Meanwhile, Meanwhile, the EIA said gasoline and distillate fuel inventories spiked by 10.9 million barrels and 10.1 million barrels, respectively.
Benchmark crude oil futures for February delivery fell by $0.51 or 0.70 percent to settle at $72.19 a barrel on the New York Mercantile Exchange. Brent crude for March delivery declined by $0.66 or 0.84 percent to settle at $77.59 a barrel on London's Intercontinental Exchange.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: