U.S. crude oil stocks dropped by 2 million barrels last week on slowing imports, which fell by over 800,000 barrels per day (bpd), government data showed. Analysts had expected an increase in stocks of 700,000 barrels.
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Oil Hovers Around $68
Oil held steady above $68 a barrel on Friday
Oil held steady above $68 a barrel on Friday, building on yesterday day's gains after an unexpected fall in U.S. crude oil stockpiles last week.
London Brent crude oil currently a better indicator of the global market than U.S. oil, rose 19 cents to $68.23 a barrel by 0551 GMT, having settled up 20 cents on Thursday. U.S. crude was up 19 cents at $64.20 a barrel.
U.S. crude oil stocks dropped by 2 million barrels last week on slowing imports, which fell by over 800,000 barrels per day (bpd), government data showed. Analysts had expected an increase in stocks of 700,000 barrels.
U.S. crude oil stocks dropped by 2 million barrels last week on slowing imports, which fell by over 800,000 barrels per day (bpd), government data showed. Analysts had expected an increase in stocks of 700,000 barrels.
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