Oil prices on Thursday fell from four-year highs reached the previous session, pressured by rising U.S. inventories and after sources said Russia and Saudi Arabia struck a private deal in September to raise crude output. Brent crude oil futures were trading at $85.85 per barrel, down 44 cents, or 0.5 percent, from their last close. Brent on Wednesday hit a four-year high of $86.74 a barrel. U.S. crude oil stocks rose by nearly 8 million barrels last week to about 404 million barrels, the biggest increase since March 2017, Energy Information Administration data showed on Wednesday. U.S. weekly Midwest refinery utilization rates dropped to 78.9 percent, their lowest since October 2015, according to the data. For More Information Please Visit : www.dollaradvisory.com and Call : +91 9111-179961Oil prices on Thursday fell from four-year highs reached the previous session, pressured by rising U.S. inventories and after sources said Russia and Saudi Arabia struck a private deal in September to raise crude output. Brent crude oil futures were trading at $85.85 per barrel, down 44 cents, or 0.5 percent, from their last close. Brent on Wednesday hit a four-year high of $86.74 a barrel. U.S. crude oil stocks rose by nearly 8 million barrels last week to about 404 million barrels, the biggest increase since March 2017, Energy Information Administration data showed on Wednesday. U.S. weekly Midwest refinery utilization rates dropped to 78.9 percent, their lowest since October 2015, according to the data. For More Information Please Visit : www.dollaradvisory.com and Call : +91 9111-179961
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