Oil prices rose on Wednesday as industry data showed a larger-than-expected drawdown in U.S. crude stockpiles, while expectations for an extended shutdown of a major North Sea crude pipeline also continued to bolster markets. Britain’s biggest pipeline from its North Sea oil and gas fields is likely to be shut for several weeks for repairs. On Wednesday morning, its operator said it was still considering repair options and reiterated that any repairs would take several weeks. Click Read More below for additional information.
Oil prices steadied on Monday as major producers Saudi Arabia and Russia had yet to agree on extending an output-cutting deal and U.S.-China trade tensions continued to threaten demand for crude.
Analysts also warn of risks to the global economy from the United States’ trade war with China.
more detail at: https://www.cnbc.com/2019/06/10/reuters-america-update-5-oil-steady-as-fate-of-output-pact-unclear-u-s-china-trade-war-lingers.html