|11-07-2014, 12:42 PM||#1|
Oil firms up as U.S. oil inventories decline
Oil prices held early gains on Thursday, buoyed by a government report that showed U.S. crude oil inventories increased lower than expected last week.
The U.S. Energy Information Administration (EIA) weekly report showed yesterday showed that U.S. said commercial oil stockpiles increased 460 thousand barrels in the week ended October 32, lower than the consensus forecast of 2.3 million-barrel increase.
The EIA report helped oil prices offset losses suffered on Tuesday, after falling to its lowest level in three years below $75 a barrel.
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