Oil prices moving towards eight-week high
DSIJ Intelligence / 27 Jul 2017
Oil prices were positioned just under eight-week highs on Thursday, riding on expectations that a steeper-than-anticipated reduction in the US crude oil inventories will cut down global oversupply.
Oil prices were positioned just under eight-week highs on Thursday, riding on expectations that a steeper-than-anticipated reduction in the US crude oil inventories will cut down global oversupply.
Brent crude futures slipped 6 cents, or 0.1%, at USD 50.91 per barrel at 1910 hours on Wednesday, after rising about 1.5% in the earlier session. Meanwhile, the US West Texas
The Energy Information Administration (EIA) on Wednesday stated that the US crude stocks slipped sharply in the previous week as an uptrend was witnessed in terms of refineries output as well as
The US EIA is a principal agency of the US Federal Statistical System responsible for collecting, analysing, and disseminating energy information to promote sound policymaking, efficient markets, and public understanding of energy and its interaction with the economy and the environment.
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