News Formal

Oil gains on U.S. crude stocks fall, OPEC comments on slower U.S. shale growth

  • 📰 Reuters
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Oil rose on Thursday after industry data showed a surprise drop in U.S. crude in...

SINGAPORE - Oil rose on Thursday after industry data showed a surprise drop in U.S. crude inventories, while comments from an OPEC official about lower-than-expected U.S. shale production growth in 2020 also provided some support.

Brent futures LCOc1 rose 39 cents, or 0.6%, to $62.76 per barrel by 0606 GMT, while U.S. West Texas Intermediate crude CLc1 gained 39 cents, or 0.7%, to reach $57.51. “I don’t see much changes in supply so prices are still trading within the same range from the start of November,” he said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Why palm oil is so cheap - Business InsiderPalm oil is a cheap and ubiquitous. It’s used in thousands of everyday products and is the most widely consumed vegetable oil on the planet. mariawilliamson global disaster
Source: BusinessInsider - 🏆 729. / 51 Read more »