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Crude inventories show unexpected decline, oil futures turn higher


Thursday, 22 February 2018 23:11 WIB

MinyakUS Oil FuturesOil,Stok Minyak AS


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Oil futures erased a small decline to turn higher Thursday after government data showed an unexpected drop in U.S. crude inventories.

The Energy Information Administration said crude stocks fell by 1.6 million barrels. A survey of analysts by The Wall Street Journal had produced an average estimate for a 1.9 million barrel rise.

West Texas Intermediate crude for April delivery on the New York Mercantile Exchange rose 41 cents, or 0.7%, to $62.09 a barrel.

Source: Marketwatch


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