Oil prices settle mixed amid data
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E-mail Xinhua, March 1, 2019
NEW YORK, Feb. 28 (Xinhua) -- Oil prices settled mixed on Thursday as investors digested data about U.S. crude stockpiles and production.
U.S. commercial crude oil inventories decreased by 8.6 million barrels in the week ending Feb. 22 from the previous week, the U.S. Energy Information Administration (EIA) said on Wednesday.
The number was more than twice the drop of 4.2 million barrels reported by the American Petroleum Institute on Tuesday.
At 445.9 million barrels, U.S. crude oil inventories are about 3 percent above the five-year average for this time of year, the EIA said.
The EIA said U.S. crude production rose to a record 12.1 million barrels per day, weighing on oil prices.
The West Texas Intermediate for April delivery increased 28 U.S. cents to settle at 57.22 dollars a barrel on the New York Mercantile Exchange, and Brent crude for April delivery was down 36 cents to close at 66.03 dollars a barrel on the London ICE Futures Exchange. Enditem
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