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U.S. Oil Benchmark Extends Climb Above 2-Month High
Thursday, 20 September 2018 19:18 WIB | COMMODITY |MinyakWTIBrent

Oil futures rose early Thursday, extending gains a day after posting the highest close since July following a government report that showed a fifth straight weekly decline in U.S. crude inventories.

The U.S. benchmark, October West Texas Intermediate crude rose 36 cents, or 0.4%, to $71.48 a barrel on the New York Mercantile Exchange, after closing in the prior session at the highest for a front-month contract since July 10, according to FactSet data. The October contract expires at the end of session. The most-active November contract was gaining 31 cents, or 0.4%, at $71.07.

November Brent the global benchmark, added 11 cents, or 0.1%, to reach $79.50 a barrel on ICE Futures Europe, a day after posting a climb of 0.5% on Wednesday.

Thursday™s modest moves follow the Energy Information Administration™s report on Wednesday, which showed that U.S. crude supplies fell by 2.1 million barrels for the week ended Sept. 14.

Source : Market Watch

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