Wednesday 17 October 2018

Oil rises on surprise draw in U.S. crude stockpiles | Reuters

Oil rises on surprise draw in U.S. crude stockpiles | Reuters:

Oil prices rose for a fourth day on Wednesday after industry data showed a surprise decline in U.S. crude inventories and tension over the disappearance of a prominent Saudi journalist stoked supply worries.

Brent crude LCOc1 was up 40 cents at $81.81 a barrel by 0755 GMT, after gaining $1.15 in the previous three sessions. The global benchmark, which hit a two-week low last week as equity markets dropped, is trading around $5 below a four-year high of $86.74 reached on Oct. 3.

U.S. light crude oil CLc1 was up 30 cents at $72.22.

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