Drop In U.S. Oil Supply Hits 3 1/2 Year Low – 19 September, 2018

For the fifth straight week, U.S. crude stockpiles fell, hitting a 3 1/2 year low. Oil prices rose when inventories declined by 2.1 million barrels and OPEC showed signs that it may not raise output to compensate for shrinking supplies from Iran. U.S. West Texas Intermediate crude was up 55 cents an 0.8 percent to $71.67 per barrel, and Brent crude was up 20 cents and 0.3 percent to $79.60 per barrel.