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Oil inches higher after data points to declining U.S. inventories

Reuters  |  NEW YORK 

By Devika Krishna KumarNEW YORK (Reuters) - Oil prices edged higher on Wednesday after a report showed U.S. refineries processed record amounts of crude in the latest week, eating into inventories, although a surprise jump in gasoline stockpiles limited price gains.U.S. crude inventories fell 6.5 million barrels last week, government data showed, steeper than the expected decrease of 2.7 million barrels. Refiners processed nearly 17.6 million barrels of crude, surpassing a record set in May and the most for any week since the U.S. Department of Energy started keeping data in 1982. Brent ...

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First Published: Wed, August 09 2017. 21:16 IST
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