Oil Stock Rises Despite Drops In Prices – 6 December, 2017

U.S.  crude stocks fell more than expected by 5.6 million barrels, while U.S. gasoline stocks rose by 1.6 million barrels. Crude fell in part due to the Keystone pipeline closure in South Dakota after a leak, cutting flows to Oklahoma. West Texas Intermediate fell 2.9 percent to $55.96 per barrel, its biggest single day decline since October, while Brent crude fell by $1.64 per barrel, down 2.6 percent to $61.22 per barrel, its lowest in over a month. U.S. crude production rose to 9.7 million barrels per day, setting a new weekly record.

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