Oil steadies after surge with supplies, stockpiles in focus FMTNews FMTBusiness
SINGAPORE: Oil held near the highest close since January as traders tracked supply constraints and a US industry report pointed to another decline in crude holdings at the nation’s key storage hub.
The industry-funded American Petroleum Institute reported that crude holdings at Cushing, Oklahoma, contracted by 1.4 million barrels last week, according to people familiar with the data. If confirmed by government figures later on Wednesday, that would be a sixth consecutive drawdown.
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