The closure will be due to maintenance works
uae2 hours ago
New York’s main contract, light sweet crude for delivery in July, dropped 37 cents to $95.51 a barrel and Brent North Sea crude for July shed 21 cents to $103.28 in morning trade.
“Many were expecting a seasonal drawdown on stockpiles, with the US driving season well underway, but that has not been the case,” David Lennox, resource analyst at Fat Prophets in Sydney, said.
The US Energy Information Administration reported on Wednesday that US crude inventories rose 2.5 million barrels in the week ending June 7, instead of the decline of 400,000 barrels expected by analysts polled by Dow Jones Newswires.
The data indicated weaker demand in the world’s top crude oil consumer in during the summer season when Americans traditionally take to the roads for their holidays.
The closure will be due to maintenance works
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