Oct 11, 2018 08:01 AM IST | Commodities
Oil extends losses as other markets fall, inventories rise
Supply worries also eased as Hurricane Michael likely spared oil assets from significant damage as it smashed into Florida, even as it caused injuries and widespread destruction.
Brent crude futures were down 66 cents, or 0.8 percent, at $82.43 a barrel by 0024 GMT. The global oil benchmark closed 2.2 percent lower on Wednesday after falling to a nearly two-week low.
Crude inventories climbed by 9.7 million barrels in the week to October 5 to 410.7 million, compared with analyst expectations for an increase of 2.6 million barrels.
Published Date: Oct 11th, 2018 06:39 AM | Updated Date: Oct 11, 2018 08:01 AM IST
Have you signed up for Primo, our daily newsletter?It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morningYOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more