Tuesday, 20 August 2019
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Oil Prices Gain on U.S. Sanctions on Iran, EIA Report
Thursday, 14 March 2019 12:28 WIB | ENERGY |Minyak jenis BrentMinyak WTI Berjangka

Oil prices traded higher on Thursday in Asia as the U.S. reportedly would start cutting more Iran™s crude exports from May.

U.S. Crude Oil WTI Futures gained 0.3% to $58.41 by 11:50 PM ET (03:50 GMT), while the international Brent Oil Futures was up 0.4% at $67.83.

In other news, the U.S. Energy Information Administration reported that crude oil inventories fell by 3.86 million barrels in the week to March 8 versus forecasts for a stockpile build of 2.66 million. In the previous week, inventories surged by 7.07 million barrels.

U.S. crude oil production also dipped, falling by 100,000 bpd to 12 million bpd.

Venezuela's oil production and exports have been disrupted by a political and economic crisis that has left millions of citizens scrambling to find food and water for days.

Source: Investing.com

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