- Oil prices climbed after yesterday's loss
Market news
24 September 2015
Oil prices climbed after yesterday's loss
West Texas Intermediate futures for November delivery advanced to $44.80 (+0.72%), while Brent crude rose to $47.98 (+0.48%) as market participants continued assessing U.S. crude stockpiles data.
Data from the Energy Information Administration showed on Wednesday that U.S. crude oil stocks fell 1.9 million barrels in the week ended September 18 (the second weekly decline in a row). Gasoline stocks rose 1.4 million barrels. Meanwhile output rose 19,000 barrels per day to 9.136 million.
Chinese President Xi Jinping signalled during his visit to the U.S. that China will proceed with reforms without resorting to competitive currency devaluation. His remarks gave hope for stronger economic growth in the world's second-biggest consumer of oil.
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