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Oil Prices Mixed Amid Surge in U.S. Inventories, GDP Results


Thursday, 31 October 2019 13:26 WIB

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Oil prices were mixed on Thursday in Asia amid a surprise surge in U.S. crude stockpiles, while U.S. GDP dropped to an annual rate of 1.9% in the third quarter.

The GDP growth was above Wall Street expectations, but it still raised concerns about investment and growth ahead as the stimulus from tax cuts disappears.

U.S. Crude Oil WTI Futures slipped 0.1% to $55.01 by 12:48 AM ET (04:48 GMT). International Brent Oil Futures gained 0.3% to $60.43.

Crude stockpiles rose by 5.7 million barrels for the week ended Oct. 25, the Energy Information Administration said. The market was expecting a rise of about 494,000 barrels, according to forecasts compiled by Investing.com.

Source : Investing.com


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