US oil stock at 86-year high

Oil declined after an official report showed US crude inventories advanced to an 86-year high.

US oil stock at 86-year high
Thu, 25 Feb, 2016 - 00:00

Crude stockpiles rose 3.5m barrels to 507.6m last week, according to the US Energy Information Administration. Supplies of petrol and distillate fuel, a category that includes diesel and heating oil, slipped.

Prices have been declining since oil ministers from Iran and Saudi Arabia signalled that they are not willing to curtail production.

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CourtsoilUSPlace: USPlace: Saudi ArabiaPlace: BostonPlace: West TexasPlace: LondonPlace: CushingPlace: OklahomaPerson: Adam WisePerson: BrentPerson: Ali al-NaimiPerson: Bijan Namdar ZanganehOrganisation: US Energy Information AdministrationOrganisation: John HancockOrganisation: OPECOrganisation: IranOrganisation: New York Mercantile ExchangeOrganisation: ICE Futures Europe exchangeOrganisation: EIAOrganisation: Baker HughesOrganisation: Bloomberg
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