Oil futures settled higher on Wednesday, finding support on the back of a weaker U.S. dollar, as well as a weekly decline in domestic gasoline stockpiles. The Energy Information Administration reported that supplies of crude rose 2.6 million barrels last week, but gasoline fell by 1.5 million barrels. The EIA data was more bullish than the American Petroleum Institute’s inventory data released Tuesday, and “lower gasoline inventories implies perhaps the economy, and driving, are not as weak as expected,” said Michael Lynch, president of Strategic Energy & Economic Research. U.S. benchmark West Texas Intermediate crude for December delivery CLZ22,
DE 40 analysis: the index rises due to global optimism amid the US Fed rate cut
The DE 40 stock index is rising amid general investor optimism after the first US Federal Reserve interest rate cut in four years. However, the