Thursday, April 2, 2015

Oil Market Update : Epic Research Singapore

The U.S. oil benchmark saw its biggest one-day percentage rise in nearly two months Wednesday as traders looked past a further rise in record crude-oil inventories to focus on a small decline in domestic production and a larger-than-expected drop in gasoline supplies.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in May CLK5, -0.96%  rose $2.49, or 5.2%, to close at $50.09 a barrel, the largest jump since Feb. 3. May Brent crude LCOK5, -0.68%  on London’s ICE Futures exchange rose $1.99, or 3.6%, to settle at $57.10 a barrel.

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