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Oil struggles for direction as investors ponder U.S. supply falls

“U.S. crude oil inventories fell by 6.5 million barrels to 1.15 billion barrels, according to the Energy Information Administration” writes Biman Mukherji for marketwatch.com. Oil futures were lacking direction on Thursday, following overnight gains on sizeable declines in U.S. crude inventories. Ice Gasoil rose 0.1% at $487.5/ton, while heating oil traded at $1.6541, up less than 0.1%.On the New York Mercantile Exchange, light, sweet crude futures for delivery in September CLU7, +0.04%  slipped 3 cents to $49.53 a barrel.
 
Source: marketwatch.com



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