U.S. crude settled above $50 a barrel in trading yesterday, boosted by falling product inventories and possibility of OPEC extending its production cuts beyond March 2018.
Investing.com - West Texas Intermediate oil pared gains in North American trade on Wednesday, after bearish data showed that oil supplies in the U.S. registered a larger-than-expected inventory build.
Crude oil prices are breaking out to fresh highs, as larger than expected draws in distillates which include diesel and heating oil helped the petroleum complex surge higher. Distillates are now below the 5-year average range and ahead of winter could continue to drive petroleum prices higher. The EIA reported a robust demand for distillates, … Continue reading Crude Oil Price Analysis for September 21, 2017