The Traderszone Network

Published in TZ Latest News 15 October, 2015 by The TZ Newswire Staff

Oil prices snap week-long fall on U.S. output decline, gasoline drawdown

Crude oil futures rose on Friday to snap a week-long decline as investors bet falling U.S. production would cut a global surplus, while the country’s gasoline and distillate inventories dropped more than expected. November Brent finished down 44 cents at $48.71 a barrel on Thursday before expiring. U.S. crude’s front-month November contract (CLc1) rose 41 cents, or 0.9 percent, to $46.79 a barrel, after settling down 26 cents, or 0.6 percent, at $46.38 a barrel.