Oil Prices Advance As US Inventories Decline
Oil closed higher on a surprise decline in US crude inventories. (Bloomberg) -- Oil closed higher on a surprise decline in U.S. crude inventories, but gains were limited with increased gasoline and diesel supplies underscoring weaker fuel demand. Futures in New York rose for a third straight day on Wednesday after flipping between gains and losses during the session. A U.S. government report showed domestic crude supplies fell more than 3 million barrels last week. But the data showed fuel supplies rose and gasoline inventories are at the highest since August, highlighting the mixed picture w...
Source: rigzone.com