Oil prices rose, touching a 6-mth high over $ 60/bbl
Oil prices rose, touching a 6-mth high over $ 60/bbl as a flurry of US refinery problems stoked supply fears
Oil prices rose, touching a six-month high over $ 60 a barrel as a flurry of US refinery problems stoked supply fears. Crude June delivery rose 1.1%, to $ 59.65 a barrel, the highest settlement since November 10. The June crude contract expired yesterday. The more-actively traded July contract rose 0.9%, to end the session at $ 60.10 a barrel.
API inventory numbers show crude stocks down 4.5 m bbl in previous week. Unrest in Nigeria, fire in Texas refinery and lower US imports supported the oil to touch a six-month high level. Weak dollar also supported the oil. Near-term range for crude is seen between $ 58-62/bbl.
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