Oil rises on lower US stockpiles, Saudi export cuts [CNBC]
Comcast Corporation - Class A (CMCSA)
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Source: CNBC
US crude rises 24 cents, settling at $64, on Saudi export cuts and lower US stockpiles Andrew Cullen | Reuters An oil pumpjack operates near Williston, North Dakota. prices were slightly higher on Thursday, as a drop in crude shipments from top exporter Saudi Arabia and a draw in U.S. oil inventories supported prices. Crude futures traded in a narrow range, with gains held in check by a strengthening dollar and tepid equities. U.S. West Texas Intermediate crude Brent crude Saudi Arabia's crude oil exports fell by 277,000 barrels per day just under 7 million bpd in February from the month before, according to data from the Joint Organizations Data Initiative. U.S. crude, gasoline and distillate inventories fell last week, with crude posting an unexpected drawdown and its first in four weeks, the Information Administration data showed on Wednesday, which also helped support prices. "The latest weekly statistics on U.S. oil inventories were seemingly positive. All the major categories
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