WTI oil price nears $75 after US crude supply data

WTI oil prices are closing back in on the $75 mark on Friday as the latest US crude oil supply data showed a dip lower. Light crude oil futures for July delivery was at $74.67 midday Singapore time on Friday on the NYMEX. Oil prices advanced 2.4 percent after the US Department of Energy said US crude oil supplies fell 1.9 million barrels to 363.2 million last week, while crude oil inventories were forecast to be unchanged, according to the Bloomberg News survey. US stockpiles were forecast to drop by 500,000 barrels, according to analysts surveyed by Bloomberg News. However, stockpiles of WTI crude oil at Cushing, Oklahoma, where New York traded WTI oil is delivered, rose to 37.9 million barrels, the second-highest level since the US Energy Department started keeping records at the storage hub in 2004. WTI oil price trading higher, over $73 on US supplies data July WTI Light oil price trading near $73 on US data Light oil price holds at $86, awaits latest US oil stock data WTI oil price trading down 3 percent on firm US dollar Index WTI oil price trading up near $72 on latest US data WTI oil price at $69 mark on strong dollar, high stocks Light oil price trading near $80 on US inventories data, dollar Oil prices trading firm on US data, homing in on $90 barrel Oil price is strong despite headwinds Brent oil price trading static, awaits US oil inventory data Brent oil price trading over $74 on US market bounce WTI oil price skids under $70 as US dollar firms up WTI oil price finds support around $70 trading range, firms Asia’s richest man says get ready for $100 crude oil price Brent oil price hangs at $80, big premium on WTI crude Light oil price trading down at $77 on US market crash Light oil price falls four percent as global markets decline Brent oil price holding around $88 mark amid strong dollar Oil prices start the week trading higher on US data Brent oil price closes the week trading at 18 month high

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WTI oil price nears $75 after US crude supply data