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Oil Marks Highest Finish Since November, With U.S. Prices Up 6 Sessions in a Row


Friday, 22 February 2019 03:26 WIB

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Crude-oil futures finished lower Thursday after a U.S. government report revealed that domestic supplies climbed for a fifth straight week as production jumped to a record level, but overall signs of declines in world-wide output capped price losses for the session.

Oil prices for both benchmarks on Wednesday had marked their highest settlements since November on signs of tighter global crude inventories.

April West Texas Intermediate crude on its first full day as a front-month contract, lost 20 cents, or 0.4%, to settle at $56.96 a barrel. March WTI had climbed for six consecutive sessions on the New York Mercantile Exchange to settle at a roughly three-month high of $56.92 on Wednesday, the day the contract expired.

Global benchmark April Brent was little changed, inching lower by a penny to end at $67.07 a barrel on ICE Futures Europe.

Source : Marketwatch


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