SHANGHAI, Dec. 30 (SMM) –Market will eye US crude oil stocks and US pending home sales for November, as well as Italy November CPI, on Wednesday.
API’s report showed that US crude oil stocks rose last week, with stocks in Cushing up another 923,000 barrels. This sent WTI and Brent oil prices down.
NAHB’s US Housing Market Index was slightly below forecast in November. But US home builder confidence stayed above 50 for five consecutive months in November. US new home sales and building permits for November both beat expectations. As such, US pending home sales are expected to improve as well in November.