US oil prices extended their rally Monday on reduced concerns about high US oil storgage levels, while global prices were unchanged. Data provider Genscape Inc told clients that crude-oil stockpiles in Cushing rose by less than 500,000 barrels last week, a smaller increase than has been seen in recent months. The broker also said that Cushing stockpiles fell easing anxiety. US oil drilling rigs fell for a record 19th straight week to the lowest since 2010 according to Baker Hughes.The US Energy Information Administration will release official storage data tomorrow.CNCB 10 million
US oil prices extended their rally Monday on reduced concerns about high US oil storgage levels, while global prices were unchanged. Data provider Genscape Inc told clients that crude-oil stockpiles in Cushing rose by less than 500,000 barrels last week, a smaller increase than has been seen in recent months. The broker also said that Cushing stockpiles fell easing anxiety. US oil drilling rigs fell for a record 19th straight week to the lowest since 2010 according to Baker Hughes.The US Energy Information Administration will release official storage data tomorrow.CNCB 20-Apr-15