You are here: Home » Reuters » News
Business Standard

Oil prices inch up in face of tight market

Reuters  |  TOKYO 

By Aaron SheldrickTOKYO (Reuters) - Oil prices rose on Monday as investors focused on tight market conditions after data late last week showed U.S. crude inventories fell to their lowest in more than three years.Global benchmark Brent had climbed 49 cents, or 0.6 percent, to $77.60 a barrel by 0635 GMT. U.S. crude futures added 34 cents, or 0.5 percent, to $74.14. Official data that came out on Thursday, a day later than normal due to the July 4 public holiday, showed inventories at Cushing, the delivery point for U.S. crude futures, fell to their lowest in 3-1/2 years."Cushing is clearly ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Mon, July 09 2018. 12:28 IST