News

Latest Oil Market News and Analysis for Dec. 28 - Bloomberg

Bloomberg · last updated

Latest Oil Market News and Analysis for Dec. 28 - Bloomberg

Oil Holds Decline on Signs of Further Build in Crude Stockpiles

- API reports rising inventories both nationwide and at Cushing
- WTI holds above $74 a barrel after falling 1.9% on Wednesday

Oil steadied after posting the largest drop in two weeks on signs of a US stockpile build coupled with weak technical indicators.

West Texas Intermediate held above $74 a barrel after declining by 1.9% on Wednesday, with Brent crude near $80. The American Petroleum Institute reported nationwide inventories rose by 1.8 million barrels, according to a report seen by Bloomberg, with levels at Cushing also expanding. That’s feeding into signs supply is topping demand as the year-end approaches.

Have a confidential tip for our reporters? Get in Touch

Before it’s here, it’s on the Bloomberg Terminal

LEARN MORE

Up Next

Oil Holds Decline on Signs of Further Build in Crude Stockpiles

View full article

here today, more tomorrow

We’ve launched briefing.center with a focus on the press and media.

And we’ve added Citizen Cartwright, a daily quick-read news summary by veteran Washington journalist Linda Cartwright. We’ve also created a new voting rights knowledge center for Citizen Cartwright subscribers. (You can sign up for a dedicated morning email at citizencartwright.com.)

You can sign up here for full access to press and media and Citizen Cartwright on briefing.center.

You can use briefing.center as the center of your information management, or just one of your tools. We’re happy to discuss your information needs.

Sign up