You are here: Home » Reuters » News
Business Standard

Oil prices stable as lower crude stocks counter soaring US output

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil prices were stable on Thursday as a fall in U.S. crude inventories was countered by soaring output and a rise in fuel stocks. U.S. West Texas Intermediate (WTI) crude futures were at $55.92 a barrel at 0751 GMT, down 4 cents from their last settlement.Brent crude futures, the international benchmark for oil prices, were at $61.28 a barrel, up 6 cents.U.S. crude oil inventories fell by 5.6 million barrels in the week to Dec. 1, to 448.1 million barrels, putting stocks below seasonal levels in 2015 and 2016. Despite this, prices were prevented from ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Thu, December 07 2017. 13:29 IST