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Oil Future Looks Bright As Crude Production Goes Down

Oil Market Finance
Oil reaches two week high.

Oil expected to maintain a positive path after reaching a two-week high. Market Watch reported, “Oil futures erased a small decline to turn higher Thursday after government data showed an unexpected drop in U.S. crude inventories. The Energy Information Administration said crude stocks fell by 1.6 million barrels. A survey of analysts by The Wall Street Journal had produced an average estimate for a 1.9 million barrel rise. West Texas Intermediate crude for April delivery CLJ8, +1.59% on the New York Mercantile Exchange rose 41 cents, or 0.7%, to $62.09 a barrel.”

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