US data continue to remain mixed and refuse to rise
US Cuts the Deficit :
The U.S. government ran a deficit of $129 billion in July, the Treasury Department reported Wednesday, pushing the fiscal year-to-date deficit close to $1.1 trillion. In July, the government spent about $288 billion and took in $159 billion. The latest monthly deficit was $36 billion less than the $165 billion figure reported in July of last year, though it is just $8 billion less when factoring in certain one-time transactions, Treasury said.
Crude Inventories fall :
Crude-oil futures added to gains Wednesday after a government weekly inventories report showed a decrease in oil supplies. Crude for September delivery added $1.93, or 2.5%, to $81.20 a barrel on the New York Mercantile Exchange. Oil had traded around $80.36 immediately before the report. The Energy Information Administration said crude-oil inventories declined 5.2 million barrels in the week ended Aug. 5. Gasoline supplies decreased 1.6 million barrels, and stockpiles of distillates were down 700,000. Analysts polled by Platts expected oil inventories up 1.8 million barrels, gasoline stocks down 1.2 million barrels, and distillate stocks up 1.2 million barrels. The EIA report on crude-oil supplies matched Tuesday's report by the American Petroleum Institute.
Inventory rises modestly :
Inventories at U.S. wholesalers rose 0.6% in June, compared with a revised 1.7% in May, the Commerce Department said Wednesday. Sales of wholesalers also rose 0.6% in June, while the inventory-to-sales ratio was flat at 1.16.
US Cuts the Deficit :
The U.S. government ran a deficit of $129 billion in July, the Treasury Department reported Wednesday, pushing the fiscal year-to-date deficit close to $1.1 trillion. In July, the government spent about $288 billion and took in $159 billion. The latest monthly deficit was $36 billion less than the $165 billion figure reported in July of last year, though it is just $8 billion less when factoring in certain one-time transactions, Treasury said.
Crude Inventories fall :
Crude-oil futures added to gains Wednesday after a government weekly inventories report showed a decrease in oil supplies. Crude for September delivery added $1.93, or 2.5%, to $81.20 a barrel on the New York Mercantile Exchange. Oil had traded around $80.36 immediately before the report. The Energy Information Administration said crude-oil inventories declined 5.2 million barrels in the week ended Aug. 5. Gasoline supplies decreased 1.6 million barrels, and stockpiles of distillates were down 700,000. Analysts polled by Platts expected oil inventories up 1.8 million barrels, gasoline stocks down 1.2 million barrels, and distillate stocks up 1.2 million barrels. The EIA report on crude-oil supplies matched Tuesday's report by the American Petroleum Institute.
Inventory rises modestly :
Inventories at U.S. wholesalers rose 0.6% in June, compared with a revised 1.7% in May, the Commerce Department said Wednesday. Sales of wholesalers also rose 0.6% in June, while the inventory-to-sales ratio was flat at 1.16.
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