Oil edges lower as U.S. supplies build, reports say Saudis restoring output
Thursday, 26 September 2019 19:32 WIB |
ENERGY |MinyakWTIBrentMinyak MentahOil,
Oil futures drifted lower Thursday, continuing to give back gains made in the wake of Sept. 14 attacks on Saudi production facilities as news reports cite progress in restoring output and U.S. inventories.rise.
West Texas Intermediate crude for November delivery on Nymex were off 5 cents, or 0.1%, at $56.44 a barrel, while November Brent crude, the global benchmark, was off 8 cents, or 0.1%, at $61.34 a barrel on ICE Europe.
News reports on Wednesday said Saudi Arabia had restored output capacity to 11.3 million barrels a day, more quickly than initially planned, after attacks on facilities earlier this month knocked production of more than 5 million barrels a day offline, sparking a sharp rally in crude prices.
Source : Marketwatch