Crude stockpiles fell by 2.3 million barrels last week — the ninth week in a row — data from the US Department of Energy showed.
This helped offset a surprise rise in gasoline inventories over the summer — traditionally the peak demand season for motor fuel.
At about 0330 GMT, US benchmark West Texas Intermediate was up 10 cents, or 0.22 per cent, to $45.85, while North Sea Brent crude was up 16 cents, or 0.34 per cent, to $47.33.
Crude prices have fluctuated between $44 and $52 per barrel in the past month, after falling below $30 in February on the back of the world supply glut and weak demand.
Supply disruptions that lifted prices from near 13-year lows in February have eased and the situation in Turkey is stabilising after the weekend’s failed coup attempt, turning attention back to the supply issue.
For more information and best NIFTY FUTURES TIPS Call us ✆ – 0731-6642300 or Visit http://www.epicresearch.co
Connect with our social media sites
Follow @Epic_Research
Sign up here with your email