leadf
logo-loader

OIL COLUMN - WTI slides as inventories rise

oilbarrels350_538897c13c6a1.jpg

As expected, US stockpiles of oil rose last week, undermining the price of West Texas Intermediate (WTI).

Inventories rose by 1.66mln barrels to 393mln, according to the Energy Information Administration.

The price of WTI for July delivery is down 0.7% at US$102.85 a barrel, and could be on course for its first weekly decline in four weeks; on the other hand, it looks odds-on to finish the month higher than it started it.

In Europe, the price of Brent crude for July delivery is also on the slide, dipping 0.4% to US$109.54 a barrel, as fears over a Russian invasion of Ukraine recede.

According to a spokesman for the Pentagon, Russia has withdrawn the bulk of its forces from the Ukrainian border.

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

PyroGenesis Canada to supply plasma torch for $1.8M with major iron ore producer

PyroGenesis Canada Inc (CVE:PYR) (OTCQB:PYRNF) (FRA:8PY) CEO Peter Pascali tells Proactive the group has signed an initial contract to provide a high-powered, one-megawatt plasma torch with accessories to a major iron ore producer for around $1.8 million. Pascali says the Montreal-based...

11 hours, 21 minutes ago

2 min read