Tuesday 21 November 2017
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thefinancialexpress
3 months ago

Oil steady as high US output balances crude stock fall

LONDON, Aug 17 (Reuters): Oil prices steadied on Thursday after US data showed a big fall in crude stockpiles but also an increase in production, taking US crude output to its highest in more than two years. Brent crude LCOc1 was unchanged at $50.27 a barrel by 0845 GMT. US light crude CLc1 was 5.0 cents lower at $46.73. Both benchmarks fell more than 1.0 per cent on Wednesday. Energy Information Administration (EIA) data showed commercial US crude stocks C-STK-T-EIA have fallen by almost 13 per cent from t

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