The Traderszone Network

Published in TZ Latest News 14 April, 2015 by The TZ Newswire Staff

Oil prices rise after signs of U.S. production dip

Oil prices rose on Wednesday after signs of a dip in U.S. production, but gains were capped by Chinese quarterly growth slowing to a six-year low. Front-month Brent crude futures (LCOc1) were trading up 47 cents at $58.90 a barrel by 0310 GMT, while U.S. crude (CLc1) was up 28 cents at $53.57. This followed a U.S. Energy Information Administration (EIA) report forecasting U.S. shale production would fall by 45,000 bpd to 4.98 million bpd in May, which would be the first monthly decline in four years.

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