Futures Markets News Oil 

Brent crude settles below $70 per barrel as global inventories tighten

“On Wednesday, the U.S. Energy Information Administration said crude inventories fell almost 5 million barrels to 419.5 million barrels last week” reports foxbusiness.com. Brent crude futures settled 6 cents higher at $69.26 a barrel, after hitting $70.05 a barrel during the session, its highest level since November 2014.U.S. West Texas Intermediate (WTI) crude futures settled at $63.80 a barrel, up 23 cents, the highest since December 2014.ICE Commitment of Traders figures showed speculators raised their net long holdings of Brent crude futures and options in the week to Jan. 2 to a new record.
 
Source: foxbusiness.com



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