Traders await release of petroleum supply report
- U.S. oil prices settle unchanged
- Traders await release of petroleum supply report
- Analysts forecast climb in U.S. crude supplies
- December WTI crude settles at $78.26 a barrel
U.S. oil futures settled unchanged on Tuesday as traders eagerly awaited the release of the Energy Information Administration’s petroleum supply report. The report, which will include two weeks’ worth of data, is expected to show a climb in U.S. commercial crude supplies. Analysts forecast a 4.5 million barrel increase for the two weeks ending Nov. 10. December West Texas Intermediate crude settled flat at $78.26 a barrel on the New York Mercantile Exchange.
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Factuality Level: 8
Justification: The article provides factual information about the settlement of U.S. oil futures and the upcoming release of the Energy Information Administration’s petroleum supply report. It also includes information about the delay in last week’s data releases and the average forecast of analysts for U.S. commercial crude supplies. The article does not contain any irrelevant or misleading information, sensationalism, redundancy, or opinion masquerading as fact. However, it lacks some necessary background information and details about the significance of the data releases and the potential impact on oil prices.
Noise Level: 7
Justification: The article provides information on the upcoming release of the Energy Information Administration’s petroleum supply report and includes analysts’ forecasts. However, it lacks in-depth analysis, evidence, and actionable insights.
Financial Relevance: Yes
Financial Markets Impacted: Energy markets, oil companies
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification:
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