Lower US oil stocks likely to help oil prices to another weekly gain
Crude inventories dropped 4.8-million barrels, nearly double analysts' expectations, to their lowest since October 2018
06 September 2019 - 13:01
London — Oil prices were steady on Friday, with crude benchmarks poised for multiweek gains amid a sharp drawdown in US crude inventories, while trade tensions eased as Washington and Beijing agreed to hold high-level talks in October.
Brent crude was down three US cents at $60.92 a barrel by 8.50am GMT, while US West Texas Intermediate (WTI) crude was down 10c at $56.20 a barrel...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.