Oil up 5% Despite Crude Build as Bulls Seize Back Control of Market

(New throughout, with market settlements) By Barani Krishnan and Liz Moyer AiVIF.com -- Oil prices jumped 5% on Wednesday, rising even after a surprise build in crude...
Oil up 5% Despite Crude Build as Bulls Seize Back Control of Market © Reuters.

(New throughout, with market settlements)

By Barani Krishnan and Liz Moyer

AiVIF.com -- Oil prices jumped 5% on Wednesday, rising even after a surprise build in crude stockpiles that snapped eight weeks of declines, as bulls seized back control of the market after a plunge earlier in the week.

Crude inventories showed a build of 2.108 million barrels during the week ended July 16, the Energy Information Administration said, wrong-footing analysts who had expected a draw of 4.466 million barrels.

It was the first build since draws that began in late May, which removed more than 40 million barrels from stockpiles. The drawdowns helped send U.S. oil prices to four-year highs of almost $78 a barrel as market punters bet on record fuel consumption in an economy reopening from Covid lockdowns.

Gasoline inventories also fell less than expected last week, drawing just 121,000 barrels, according to the EIA, versus expectations for a drop of 1.043 million barrels.

Distillate stockpiles, which include diesel and heating oil, were the only numbers on the positive side for last week. These declined by 1.349 million barrels against forecasts for a build of 557,000 barrels.

New York-traded West Texas Intermediate crude, the benchmark for U.S. oil, settled up $3.10, or 4.6%, at $70.30 a barrel.

WTI tumbled 7.5% to reach under $67 a barrel on Monday for its worst sell-off in 16 months as producer group OPEC+ announced an output hike and reports of resurfacing cases of Covid-19.

London-traded Brent, the global benchmark for oil, settled up $2.88, or 4.2%, at $72.23 in the latest session. Brent lost 6.8% on Monday.

“It looks like it's payback time for the bulls as the overall rebound in risk appetite on Wall Street has put some wind behind the oil market," said John Kilduff, founding partner at New York energy hedge fund Again Capital. "But the seasonal peak in gasoline consumption is over and if the EIA continues reporting builds like this for the next few weeks amid the new Covid scare, then I doubt prices would continue trending higher."

COVID case rates have been rising in the United States, where 47 of the 50 states have reported more infections than the previous week from the highly-transmissible Delta variant.

Global cases involving the Delta variant have also surged in recent weeks, prompting some countries, including Australia and South Korea, to reintroduce restrictive measures. The United Kingdom on Saturday reported the highest number of daily Covid-19 cases since Jan 2021.

27-07-2021 03:28:56 (UTC+7)

EUR/USD

1.1805

+0.0034 (+0.29%)

Summary

Neutral

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (0)

Sell (7)

EUR/USD

1.1805

+0.0034 (+0.29%)

Summary

Neutral

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (0)

Sell (7)

GBP/USD

1.3821

+0.0076 (+0.55%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (0)

Sell (5)

USD/JPY

110.39

-0.15 (-0.14%)

Summary

Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (2)

Sell (1)

AUD/USD

0.7383

+0.0019 (+0.26%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (1)

USD/CAD

1.2541

-0.0020 (-0.16%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (4)

Sell (2)

EUR/JPY

130.32

+0.18 (+0.14%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (4)

EUR/CHF

1.0809

-0.0009 (-0.09%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (5)

Gold Futures

1,797.75

-4.05 (-0.22%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (5)

Silver Futures

25.262

+0.029 (+0.11%)

Summary

Sell

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Buy (4)

Sell (8)

Indicators:

Buy (2)

Sell (5)

Copper Futures

4.6022

+0.2022 (+4.60%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (5)

Sell (4)

Crude Oil WTI Futures

72.20

+0.13 (+0.18%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (0)

Brent Oil Futures

73.94

+0.50 (+0.68%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Natural Gas Futures

4.082

+0.040 (+0.99%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (0)

US Coffee C Futures

207.90

+18.90 (+10.00%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

Euro Stoxx 50

4,102.59

-6.51 (-0.16%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

S&P 500

4,422.23

+10.44 (+0.24%)

Summary

↑ Buy

Moving Avg:

Buy (12)

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Indicators:

Buy (9)

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DAX

15,618.98

-50.31 (-0.32%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

FTSE 100

7,025.43

-2.15 (-0.03%)

Summary

↑ Buy

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Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Hang Seng

26,220.00

-1064.87 (-3.90%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (7)

US Small Cap 2000

2,215.15

+5.74 (+0.26%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

IBEX 35

8,775.20

+58.00 (+0.67%)

Summary

Neutral

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (3)

Sell (4)

BASF SE NA O.N.

67.540

+0.510 (+0.76%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

Bayer AG NA

51.40

+0.20 (+0.39%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

Allianz SE VNA O.N.

210.90

+0.40 (+0.19%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (1)

Adidas AG

311.95

-5.75 (-1.81%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (6)

Deutsche Lufthansa AG

9.847

-0.002 (-0.02%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Siemens AG Class N

134.56

-0.09 (-0.07%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

Deutsche Bank AG

10.660

+0.070 (+0.66%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

 EUR/USD1.1805Neutral
 GBP/USD1.3821Neutral
 USD/JPY110.39Buy
 AUD/USD0.7383Buy
 USD/CAD1.2541Buy
 EUR/JPY130.32Neutral
 EUR/CHF1.0809↑ Sell
 Gold1,797.75Neutral
 Silver25.262Sell
 Copper4.6022Buy
 Crude Oil WTI72.20↑ Buy
 Brent Oil73.94↑ Buy
 Natural Gas4.082↑ Buy
 US Coffee C207.90↑ Buy
 Euro Stoxx 504,102.59↑ Buy
 S&P 5004,422.23↑ Buy
 DAX15,618.98↑ Buy
 FTSE 1007,025.43↑ Buy
 Hang Seng26,220.00↑ Sell
 Small Cap 20002,215.15↑ Buy
 IBEX 358,775.20Neutral
 BASF67.540↑ Buy
 Bayer51.40↑ Buy
 Allianz210.90↑ Buy
 Adidas311.95↑ Sell
 Lufthansa9.847↑ Sell
 Siemens AG134.56↑ Buy
 Deutsche Bank AG10.660↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,665/ 5,720
(0/ 0) # 687
SJC HCM5,680/ 5,745
(0/ 0) # 713
SJC Hanoi5,680/ 5,747
(0/ 0) # 715
SJC Danang5,680/ 5,747
(0/ 0) # 715
SJC Nhatrang5,680/ 5,747
(0/ 0) # 715
SJC Cantho5,680/ 5,747
(0/ 0) # 715
Cập nhật 27-07-2021 03:28:58
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,798.26-1.97-0.11%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2188022310
RON 95-II,III2178022210
E5 RON 92-II2061021020
DO 0.05S1653016860
DO 0,001S-V1688017210
Dầu hỏa1550015810
ↂ Giá dầu thô thế giới
WTI$72.19-0.42-0.59%
Brent$74.78-0.82-1.09%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.880,0023.110,00
EUR26.387,0727.760,11
GBP30.825,6632.113,27
JPY203,04213,69
KRW17,2621,01
Cập nhật lúc 18:50:27 26/07/2021
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