Oil Prices Bounce After U.S. Gasoline Inventory Draw

Oil prices rose early on Thursday, extending gains from the previous session following a large draw on U.S. gasoline inventories.

 

 U.S. West Texas Intermediate (WTI) crude futures were trading at $41.15 per barrel at 0139 GMT, up 32 cents, or 0.8 %, after rising 3.3 % and back over $40 the previous session.We are provide all  Free Stock Tips, Mcx Tips, Commodity Market Tips and one day free trial to content this no 9827808090.

 

 International Brent crude futures were trading at $43.39 per barrel, up 29 cents, or 0.7 %, from their last close.

 

 The jumps on Wednesday and Thursday marked at least a temporary end to a sharp downward trend since June, which saw crude futures lose some 20 % of their value."Oil prices rallied after the EIA weekly report showed gasoline inventories declined the most at this time of the year for at least five years," ANZ bank said.

 

Stocks dropped 3.26 million barrels to 238.2 million barrels, according to data from the U.S. Energy Information Administration (EIA).


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