Oil settles sharply higher after report the Saudis plan to cut shipments to U.S. refiners [MarketWatch]
CME Group Inc. - Class A (CME)
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Source: MarketWatch
Oil settles sharply higher after report the Saudis plan to cut shipments to U.S. refiners U.S. oil futures saw a sharp move higher late in Thursday’s trading session to finish nearly 3% higher. Saudi Arabia plans to slash shipments to U.S. refiners within weeks to help prevent a buildup of American crude stockpiles, Bloomberg reported Thursday . Saudi Aramco warned U.S. refiners to brace for a steep drop in cargoes next month, Bloomberg reported, citing people briefed on the plans of the state-controlled oil company. January West Texas Intermediate oil CLF9, +3.54% rose $1.43, or 2.8%, to settle at $52.58 a barrel on the New York Mercantile Exchange. Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.
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