Market Chatter: WTI Advances a Fifth Day as U.S. Refiners Bolster Output
"West Texas Intermediate traded near its highest in five weeks and was set for a quarterly gain after U.S. government data showed refineries raised operating rates," Bloomberg reported.
It said: "Futures rose as much as 0.4% in New York and have gained 5.2% in the past three months. Refineries ran at 85.7% of capacity last week, up 2.2 percentage points from the prior week and the most since January, figures from the Energy Department showed yesterday. U.S. crude stockpiles increased 3.3 million barrels, according to the report. They were forecast to gain 1.33 million barrels, an earlier Bloomberg News survey showed."
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