Oil Updates – prices advance as investors reassess US inventories data

TOKYO: Oil prices edged up on Thursday, following two consecutive sessions of decline, as investors reassessed the latest data on US crude oil and gasoline inventories and returned to buying mode, according to Reuters.

Brent crude futures for May were up 31 cents, or 0.4 percent, at $86.40 a barrel while the more actively traded June contract rose 32 cents, or 0.4 percent, to $85.73 at 7:15 a.m. Saudi time. The May contract expires on Thursday.

US West Texas Intermediate crude futures for May delivery were up 39 cents, or 0.50 percent, to $81.74 a barrel.

Leave a Comment