Day: May 11, 2023

Trkiye's benchmark stock index opened Thursday at 4,492.19 points, down by 0.05%, or 2.29 points, from the previous close. Borsa Istanbul's BIST 100 index closed Wednesday at 4,494.48 points, losing 0.92%, with a daily trading volume of 45 billion Turkish liras ($2.31 billion). The US dollar/Turkish lira exchange rate was 19.5490 as of 09.56 a.m. local time (0656GMT), the euro/lira exchange rate stood at 21.3926, while a British pound traded for 24.6270 Turkish liras. Brent crude oil was selling for around $76.60 per barrel, while the price of an ounce of gold was $2,035.15.

Source: Anadolu Agency

US commercial crude oil inventories increased 0.6% during the week ending May 5, according to data released by the Energy Information Administration (EIA) late Wednesday. Inventories rose by around 3 million barrels to 462.6 million barrels, lower than the American Petroleum Institute's expectation of a rise of 3.6 million barrels. Strategic petroleum reserves, which are excluded from commercial crude stocks, however, fell by about 2.9 million barrels to 362 million barrels last week, the data revealed. Gasoline inventories also declined by around 3.2 million barrels to 219.7 million barrels over the same period. Crude production remains unchanged EIA data showed that US crude oil imports increased by 843,000 barrels per day (bpd) to around 5.55 million bpd during the week ending May 5, while crude oil exports fell by 1.86 million bpd to about 2.87 million bpd. US crude oil production, meanwhile, remained unchanged at 12.74 million bpd over the same period. In the Short-Term Energy Outlook (STEO) released on May 9, the EIA forecast that crude oil output in the US would average 12.53 million bpd this year, up from 11.90 million bpd in 2022. Crude oil output in the country in 2024 is forecast to reach 11.88 million bpd.

Source: Anadolu Agency

European stocks ended in the red Wednesday. The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, fell 1.77 points, or 0.38%, to finish at 463.64. The UK's FTSE 100 lost 22 points, or 0.29%, to end the session at 7,741. Germany's DAX 30, meanwhile, shed 59 points, or 0.37%, to 15,896. France's CAC 40 was the worst performer of the day, plummeting almost 36 points, or 0.49%, to close at 7,361. Italy's FTSE MIB decreased 118 points, or 0.43%, to 27,264. Spain's IBEX 35 trimmed 15 points, or 0.17%, to end the day at 9,167.

Source: Anadolu Agency