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US oil hits two-year high on pipeline outage, lower inventories

US oil hits two-year high on pipeline outage, lower inventories

November 24, 2017

CALGARY (Alberta), Nov 24— US crude hit a two-year high in thin trade yesterday as the shutdown of a major crude pipeline from Canada and a draw on fuel inventories pointed to a tightening market, despite rising output from US producers. West Texas Intermediate crude was up 54 cents at US$58.56 (RM240.71) per barrel by 2.00pm EST (1900 GMT), close to a two-year peak of US$58.58 touched earlier in the session. Brent crude settled at US$63.55 per barrel, 23 cents above its previous... Read more

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Reuters Video: Online holiday sales to hit records
Cyber Monday will be the largest online shopping day in history, with more than US$6 billion in sales, according to Adobe Analytics. — Reuters Read More