U.S. Oil Rebounds After Hitting Two-Month Low – 5 June, 2017

U.S. oil rebounded from the two-month low it hit on Tuesday after OPEC sources said the U.S. asked some producers to raise output due to declining crude inventories. West Texas Intermediate rose 0.2 percent and 10 cents to $65.62 per barrel, rebounding from Tuesdays low of $64.22 per barrel. Brent Crude’s Tuesday low was sitting at $73.81 but managed to rise by 9 cents the previous session. It is currently trading down 8 cents and 0.1 percent to $75.30 per barrel. U.S. crude inventories fell by just over the expected 1.8 million barrels to 2 million barrels.