Home / Business / Rise in crude oil stockpile doesn’t ease price in US market

Rise in crude oil stockpile doesn’t ease price in US market

Crude oil Price: Thursday morning saw a continued increase in the price of Crude oil. This followed a huge increase in the inventory maintained by the US.  This happened due to a number of oil refineries under maintenance. This has seen the stock of crude oil touch the 10 million barrel mark as per latest figures released by the government.

The price in the US market was 52$ per barrel as against the recent price of 44$. The latter price was a six year low for the US market.

Traders await the latest monetary policy announcement from the European Central Bank.

The ECB is set to detail its historic $1.1 trillion quantitative easing plan announced in January and present its latest batch of growth and inflation forecasts for the euro area.

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