Crude oil futures rose a second day Thursday morning after an industry watcher reported a surprisingly large draw down in U.S. oil inventories.
The American Petroleum Institute late Wednesday reported that crude supplies fell 6.7 million barrels for the week ended July 1,
Meanwhile, Royal Dutch Shell has lifted its force majeure on Bonny Light oil exports from Nigeria. The force majeure was declared in early May.
WTI Light sweet crude oil was up 1 percent at $47.90 a barrel.
Inventories data from the U.S. government’s Energy Information Administration (EIA) will be out this morning at 11 a.m. ET.
The material has been provided by InstaForex Company – www.instaforex.com