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Oil Prices Edge Up on Surprise Drawdown in U.S. Crude Stockpiles
Wednesday, 17 October 2018 08:43 WIB | ENERGY |Minyak WTIbrent oilOil,Crude Oil

U.S. oil prices extended gains on Wednesday after industry data showed a surprise decline in U.S. crude inventories.

U.S. West Texas Intermediate crude was up 35 cents, or 0.5 percent, at $72.27 a barrel by 0007 GMT on Wednesday, having settled up 14 cents.

Brent crude was up 36 cents, or 0.4 percent, at $81.77 a barrel, after settling up 63 cents the session before. The global benchmark, which hit a more than two-week low late last week as equity markets dropped, is trading about $5 below a four-year high of $86.74 marked on Oct. 3.

U.S. crude inventories fell by 2.1 million barrels last week, compared with analyst expectations for a build of 2.2 million barrels, American Petroleum Institute data showed after Tuesday™s settlement.

Source : Reuters

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