Oil prices edge up as retreat in US crude oil inventory beats forecasts
Brent crude futures and US West Texas Intermediate crude futures gain
06 May 2021 - 07:32
Singapore — Oil prices rose on Thursday, recouping early losses, as crude stockpiles in the US, the world’s largest oil consumer, fell sharper than expected as refining output rose and exports surged.
Brent crude oil futures rose by 17c, or 0.3%, to $69.13 a barrel by 5.43am, and US West Texas Intermediate (WTI) crude futures gained by 8c, or 0.1%, to $65.71 a barrel...
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