You are here: Home » Reuters » News
Business Standard

Oil prices move higher after U.S. stockpiles fall

Reuters  |  TOKYO 

By Aaron SheldrickTOKYO (Reuters) - Oil futures rose on Thursday after official figures showing U.S. crude inventories fell more than expected, but the market is clearly settling into a range amid quiet trading, analysts said.Brent crude, the global benchmark, was up 18 cents, or 0.3 percent, at $52.88 at around 0617 GMT, after falling slightly earlier. It closed up 1.1 percent on Wednesday, snapping two days of declines.U.S. West Texas Intermediate (WTI) crude was up 16 cents, or 0.3 percent, at $49.72, after declining earlier. The contract gained 0.8 percent in the previous session."Broadly ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Thu, August 10 2017. 12:10 IST
RECOMMENDED FOR YOU