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Oil gains after drop in US inventories adds to supply concerns

Updated : April 18, 2018 03:56 PM IST

Brent crude oil futures were up 54 cents at $72.12 a barrel by 0941 GMT, while US WTI crude futures were up 60 cents at $67.12.
US crude inventories fell by 1 million barrels last week to 428 million barrels, the American Petroleum Institute (API) said.
The Organization of the Petroleum Exporting Countries and 10 rival producers have restrained output by a joint 1.8 million barrels per day since January 2017.
Oil gains after drop in US inventories adds to supply concerns

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