U.S. Crude Supply Lower Than Expected – 1 November, 2017

U.S. oil prices hit their highest in over two years before slowly dropping as crude stock was reportedly not as high as originally thought. OPEC’s output for October was 32.78 million barrels, down 80,000. Brent Futures settled at at $60.69, dropping 0.74 percent or 45 cents. West Texas intermediate was down by 0.15 percent and 8 cents to $54.30 per barrel.