RTTN:Crude Hovers Near 10-month High In Asian Session
(RTTNews) - The price of crude oil was extending gains for a fourth day in Asian session Friday amid supply concerns.
Light Sweet Crude Oil (WTI) futures for April delivery, added $0.77 to $108.60 a barrel. Yesterday oil extended gains for a third session mostly on supply concerns and a weak dollar, notwithstanding a larger-than-expected increase in U.S. oil inventories.
Thursday during trading hours, the EIA revealed that U.S. crude oil inventories increased by 1.60 million barrels, while gasoline stocks were down by 600,000 barrels in the weekended February 17. Analysts were expecting crude oil inventories to jump 1.35 million barrels and gasoline stocks to add 250,000 barrels last week.
