The Traderszone Network

Published in TZ Latest News 5 November, 2015 by The TZ Newswire Staff

Crude futures edge up, but U.S. inventory build drags

Oil futures were up slightly in early Asian trade on Thursday after losses the previous session on official figures showing a sixth consecutive week of inventory gains in U.S. crude stockpiles. Crude prices slumped as much as 4 percent on Thursday after the Energy Information Administration said U.S. crude inventories added 2.85 million barrels last week, in line with forecasts, despite a drop in imports to the lowest level since 1991 (EIA/S). U.S. crude was up 5 cents at $46.38 a barrel by 0621 GMT.