However, distillate stocks remain significantly low last year levels and forecasts for a very cold winter are keeping the market on edge.
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Crude Creeped To $50 Again
Crude oil futures climbed back to $50 yesterday on supply stoppages in the North Sea and concerns about low stocks
Crude oil futures climbed back to $50 yesterday on supply stoppages in the North Sea and concerns about low stocks of winter heating fuels.
US crude hit $50.40 a barrel on the NYMEX. In London benchmark Brent crude futures rose 27 cents to settle at $46.02 on the IPE.
US inventory data due today is expected to show overall US distillate inventories - including diesel and heating oil - rose by 1.3 million barrels in the week to 26 November.
However, distillate stocks remain significantly low last year levels and forecasts for a very cold winter are keeping the market on edge.
However, distillate stocks remain significantly low last year levels and forecasts for a very cold winter are keeping the market on edge.
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