Surge in US output halts oil price rally

by | August 3, 2017 9:00 am

The internationally traded Brent halted gains above $52 a barrel as investors weigh a rebound in US output against declining crude and gasoline stockpiles. Its rally has stalled at $52.11 a barrel in early Thursday trading. The EIA inventory data for the US show crude at -1.53m bbl, gasoline -2.52m bbl, distillates -0.15m bbl. Crude production…

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