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Oil Holds Near $60 as U.S. Stockpiles Plunge, Saudis Cut Supply

Thursday, 21 March 2019 18:22 WIB Minyak WTI brent oil Oil, Crude Oil

Oil held near a four-month high after U.S. crude inventories plunged by the most since July, while Saudi Arabia pressed on with export cuts. Futures slipped 0.5 percent in New York, having closed above $60 a barrel on Wednesday for the first time since November. U.S. government data showed that nationwide stockpiles declined by 9.59 million barrels, while analysts had expected an increase. The country’s crude exports were near a record high, imports from Saudi Arabia fell by more than half and shipments from Venezuela stopped completely. West Texas Intermediate for May delivery was at $59.94 a barrel, down 29 cents, on the New York Mercantile...

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