Oil prices are continuing to rise on Thursday following the release of bullish US distillate data in the previous session, despite an unexpected increase in crude inventories.
The front month contract for Brent North Sea crude oil was last seen changing hands at USD 115.01/bbl on the ICE platform, up USD 0.08 on Wednesday's close, while the WTI July contract on Nymex traded USD 0.32 higher at USD 101.64/bbl.
"A large draw in distillate inventories...helped push the market higher,” said Stephen Schork, of the Schork Report.
US distil
Donnerstag, 26.05.2011, 08:15 Uhr
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