Oil Firm On Falling U.S. Fuel Inventories, But Record Output Drags On Prices

www.oann.com | 4/23/2018 | Staff
SINGAPORE (Reuters) – U.S. oil prices were firm on Thursday amid a fall in U.S. inventories and as OPEC cuts supply, but record U.S. crude output of 12.1 million barrels per day (bpd) prevented prices rising further.

U.S. West Texas Intermediate (WTI) crude oil futures were at $57.01 per barrel at 0034 GMT, up 7 cents from their last settlement.

International - Brent - Crude - Futures

International Brent crude futures had yet to trade.

Crude prices rose by around 2 percent the previous session.

Builds - US - Crude - Inventories - Barrels

After five consecutive weekly builds, nationwide U.S. crude inventories fell 8.6 million barrels in the week to Feb. 22 to 445.87 million barrels.

“Crude oil prices rose sharply after data showed OPEC’s production cut agreement is having...
(Excerpt) Read more at: www.oann.com
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