Brent crude hits hew all time high
Brent crude oil hit a new all time high of $109.98/barrel in London this morning on follow-through trade from yesterday.
The US Dept of Energy yesterday dropped it's US crude oil inventories for the week Apr 4 by 3.2m barrels compared to expectations of a rise of 2.5m barrels.
Gasoline & distillates stocks also declined.
Continued dollar weakness also underpins crude analysts said.
NYMEX crude is steady at $111.60 a barrel, just below yesterday's fresh all-time high of $112.21 a barrel.
The US Dept of Energy yesterday dropped it's US crude oil inventories for the week Apr 4 by 3.2m barrels compared to expectations of a rise of 2.5m barrels.
Gasoline & distillates stocks also declined.
Continued dollar weakness also underpins crude analysts said.
NYMEX crude is steady at $111.60 a barrel, just below yesterday's fresh all-time high of $112.21 a barrel.
