NewsOil Prices Down Amid Lower Oil Demand Forecast

Oil Prices Down Amid Lower Oil Demand Forecast

12.06.2019 10:50

US crude inventories are expected to rise by 4.9 million barrels last week amid expectation of 481,000 barrel drop.

International benchmark Brent crude traded at $61.50 per barrel, while American benchmark West Texas Intermediate (WTI) amounted to $52.23 at 07.17 GMT on Wednesday.



Prices fell as the U.S. Energy Information Administration (EIA) cut its forecasts for 2019 world oil demand growth and the American Petroleum Institute (API) reported an unexpected increase in crude stockpiles.



The EIA lowered its 2019 world oil demand growth forecast by 160,000 barrels per day (bpd) to 1.22 million bpd.



API said that U.S. crude inventories are forecasted to rise by 4.9 million barrels last week to 482.8 million barrels. The market expectation was an inventory drop of 481,000 barrels. -

Latest News

From the AK Party:

"From the AK Party: "Terror-Free Turkey" message: The commission will be established within days."
Response to Pervin Buldan's statement

"Response to Pervin Buldan's statement "This alliance is a process alliance" from the AK Party."
Good news for credit card holders! Limits are increasing, and repayment terms are being extended.

"Good news for credit card holders! Limits are increasing, and repayment terms are being extended."
Iranian media: President Pezeshkian was injured in the Israeli attack.

"Iranian media: President Pezeshkian was injured in the Israeli attack."
In the

"In the "bill" fight, they assaulted female tourists and kicked them while they were on the ground."
In the Kartalkaya tragedy, the grieving mother who lost her child revealed the horrifying truth in court.

"In the Kartalkaya tragedy, the grieving mother who lost her child revealed the horrifying truth in court."
In the Şile Municipality investigation, a bribery was caught in the act! The Mayor has been referred to the courthouse.

"In the Şile Municipality investigation, a bribery was caught in the act! The Mayor has been referred to the courthouse."
The mufti was about to become the district governor! He got caught at the last moment.

"The mufti was about to become the district governor! He got caught at the last moment."
Here is the translation of the text you provided:

"Here is the translation of the text you provided: "Chilling confession from the brother's killer! He shot him twice in the head to prevent him from suffering.""
Decision on 4 defendants in the Kartalkaya case.

"Decision on 4 defendants in the Kartalkaya case."
A fire that resulted in the deaths of three people started from an electrical shaft.

"A fire that resulted in the deaths of three people started from an electrical shaft."
The Turkey Model will serve as an example for other countries.

"The Turkey Model will serve as an example for other countries."
A man who verbally harassed women was beaten by the neighborhood.

"A man who verbally harassed women was beaten by the neighborhood."
She recounted her daughter's last words in the tragedy at Kartalkaya:

"She recounted her daughter's last words in the tragedy at Kartalkaya: "Mom, I don't want to die.""
After the weapon burn, all eyes are on the PKK! 11 terrorist camps will be evacuated.

"After the weapon burn, all eyes are on the PKK! 11 terrorist camps will be evacuated."
Fire in a 26-story building in the capital! 3 people, including 1 baby, lost their lives.

"Fire in a 26-story building in the capital! 3 people, including 1 baby, lost their lives."
New Name for the Presidency of the TRT Board of Directors!

"New Name for the Presidency of the TRT Board of Directors!"
Erdoğan's historic speech in the world press: The end of a painful era.

"Erdoğan's historic speech in the world press: The end of a painful era."
Specialist Sergeant Musa Çal lost his life in the river after becoming overwhelmed by the hot weather.

"Specialist Sergeant Musa Çal lost his life in the river after becoming overwhelmed by the hot weather."
In a 7-goal duel, Galatasaray defeated Ümraniyespor.

"In a 7-goal duel, Galatasaray defeated Ümraniyespor."
A special status state is being established in New Caledonia, a French territory.

"A special status state is being established in New Caledonia, a French territory."
Attack on the mosque's muezzin with a knife! Those moments captured on camera.

"Attack on the mosque's muezzin with a knife! Those moments captured on camera."
The words of the 19-year-old survivor of the hotel disaster are heartbreaking:

"The words of the 19-year-old survivor of the hotel disaster are heartbreaking: "We waited for death in the bathroom.""
Fenerbahçe announced the transfer of Archie Brown.

"Fenerbahçe announced the transfer of Archie Brown."
President's Chief Advisor Yiğit Bulut was bid farewell on his final journey in Istanbul.

"President's Chief Advisor Yiğit Bulut was bid farewell on his final journey in Istanbul."
In order to provide you with a better service, we position cookies on our site. Your personal data is collected and processed within the scope of KVKK and GDPR. For detailed information, you can review our Data Policy / Disclosure Text. By using our site, you agree to our use of cookies.', '