SINGAPORE – Oil stayed near US$63 a barrel on Friday, weighed down by bulging natural gas and heating oil inventories in the United States and the suspension of an oil workers’ strike in Nigeria.
US light crude for October delivery was at US$63,19 a barrel after falling 75 cents on Thursday and hitting a five-month low. London Brent crude for the new front-month November contract was at US$63,52.US natural gas prices fell to a two-year low on Thursday after Energy Information Agency data showed that inventories had swelled by more-than-expected.This came on the back of data showing rising distillate fuels, including heating oil, increasing its supply cushion ahead of the northern winter.London Brent crude for the new front-month November contract was at US$63,52.US natural gas prices fell to a two-year low on Thursday after Energy Information Agency data showed that inventories had swelled by more-than-expected.This came on the back of data showing rising distillate fuels, including heating oil, increasing its supply cushion ahead of the northern winter.
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