Crude-oil prices were slightly higher in Asia on Thursday as Chinese traders returned after a weeklong break, but worries over an unexpected increase in U.S. inventories whittled down gains earlier in the session. According to WSJ
On the New York Mercantile Exchange, light, sweet crude futures for delivery in November traded at $47.98 a barrel at 0334 GMT, up $0.17 in the Globex electronic session. November Brent crude on London’s ICE Futures exchange rose $0.15 to $51.48 a barrel.
According to the EIA, the U.S. crude stocks added 3.1 million barrels in the week ended Oct. 2, compared with the 1.75 million barrels estimated by pricing agency Platts. “At 461.0 million barrels, U.S. crude oil inventories remain near levels not seen for this time of year in at least the last 80 years,” said EIA. WSJ
During Thursday’s Morning trade, Shares of Chesapeake Energy Corporation (NYSE:CHK), dropped -0.11% to $9.14. The firm opened its current trade at $9.05, and as of now, it is trading at $9.14. The total volume traded for the day is 982,267.00 shares, as compared to its average daily volume of 19.18M shares. The stock is floating in a range of $9.03 - $9.38. The stock holda the market capitalization of $6.15B.
Chesapeake Energy Corporation produces oil and natural gas through acquisition, exploration, and development of from underground reservoirs in the United States. It holds interests in natural gas resource plays, counting the Haynesville/Bossier Shales in northwestern Louisiana and East Texas; the Marcellus Shale in the northern Appalachian Basin of West Virginia and Pennsylvania; and the Barnett Shale in the Fort Worth Basin of north-central Texas.
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