Oil rises for first time in seven days | Reuters

TOKYO Crude oil prices rose in early Asian trade for the first time in seven days after a small decline in stockpiles at the U.S. Cushing hub overrode concerns about the impact of Britain's possible exit from the European Union.

Brent crude futures LCOc1 were up 25 cents at $47.44 a barrel at 0040 GMT. On Thursday, the contract fell 3.6 percent to $47.19 per barrel.

U.S. West Texas Intermediate crude futures CLc1 rose 17 cents at $46.38. The previous session, the contract declined 3.8 percent to $46.21 a barrel.

Market intelligence firm Genscape on Thursday reported a weekly decline of 76,317 barrels in stockpiles at the Cushing, Oklahoma delivery point for WTI futures, traders who saw the data said. In the previous week, Genscape reported a drawdown of 299,058 barrels at Cushing.

The British pound rose from a two-month low after campaigning for next week's so-called Brexit vote was suspended following the murder on Thursday of a U.K. member of parliament, who was a vocal advocate for Britain to stay in the European Union.

Commodities across the board also posted gains, while equity benchmarks including Japan's Nikkei stock average rose.

(Reporting by Aaron Sheldrick; Editing by Ed Davies)

This story has not been edited by Firstpost staff and is generated by auto-feed.


Updated Date: Jun 17, 2016 07:00 AM

Also Watch

Social Media Star: Abhishek Bachchan, Varun Grover reveal how they handle selfies, trolls and broccoli
  • Monday, July 16, 2018 It's a Wrap: Soorma star Diljit Dosanjh and Hockey legend Sandeep Singh in conversation with Parul Sharma
  • Monday, July 16, 2018 Watch: Dalit man in Uttar Pradesh defies decades of prejudice by taking out baraat in Thakur-dominated Nizampur village
  • Monday, July 16, 2018 India's water crisis: After govt apathy, Odisha farmer carves out 3-km canal from hills to tackle scarcity in village
  • Sunday, July 15, 2018 Maurizio Sarri, named as new Chelsea manager, is owner Roman Abramovich's latest gamble in quest for 'perfect football'

Also See