Oil extends gains after data shows huge stock draw

14 September 2016, 18:12
Eko Rediantoro
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Oil prices extended gains by more than 1.5 percent on Thursday after industry data showed what might be the largest weekly crude stock draw in over three decades. U.S. crude stocks surprisingly plunged 12.1 million barrels last week, data from the American Petroleum Institute showed after the market settlement on Wednesday, compared with expectations for an increase of around 200,000 barrels. [API/S] If official data released from the U.S. government later on Thursday confirms the draw, it would be the largest one-week decline since April 1985. ADVERTISING inRead invented by Teads The U.S.
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