Crude Rally Continues on U.S. Output, Inventory Data

U.S. Energy Information Administration that daily average U.S. output last week fell 100,000 barrels

Crude Oil: $44.89 barrel, Natural gas: $3.080/MMBtu, Gold:$ 1249.60 per troy oz


Oil futures climbed higher Thursday as last week’s drop in U.S. production stoked hopes that the slide in prices since May is starting to take a toll on the country’s shale output.

Brent crude, the global oil benchmark, rose 0.9% to $47.95 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 0.9% at $45.16 a barrel.

The U.S. Energy Information…Read more.

Resource: WSJ