Oil prices hit two-week high after US inventories drop:
"Oil is cruising higher after data showed US crude stockpiles unexpectedly fell last week. Before the data, both Brent, the international benchmark, and West Texas Intermediate, the US standard, were relatively flat on the day. Since then, both have pushed higher, with a barrel of Brent now trading up by $1 at $66.56 — a two-week high. WTI is up more than 2 per cent to $63.02, also its highest point in two weeks. The US Energy Information Administration said that US crude inventories dropped by 1.6m barrels in the week ending February 16. Analysts had on average been looking for a 1.33m barrel increase, according to Thomson Reuters data."
'via Blog this'
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