Oil extends multiday rally as U.S. crude supply data show sharp drop

8/22/2018

Oil prices spike as the American Petroleum Institute (API) reported US crude supplies fell by 5.2 million barrels for the week ended Aug. 17, compared to a forecast decline of about 3.4 million barrels, say analysts. Additional data from the Energy Information Administration (EIA) will be released Wednesday at 10:30 a.m. Eastern. WTI Crude is $67.19; Brent is $74.08 this morning.

Source: MarketWatch.com - By: Mark Decambre - Image: Getty Images

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