Oil prices remained in touching distance of three-month peaks on Thursday, extending a robust streak that began a week ago, after data showed U.S. crude inventories had dropped while output cuts by major producers kept supply snug.
Brent crude futures edged down 1 cent to $66.16 a barrel by 0224 GMT, while U.S. West Texas Intermediate (WTI) crude fell 3 cents to $60.90. Trading volume was thin, with not even news of President Donald Trump’s impeachment by the U.S. House of Representatives stirring the oil market.
According to weekly data released by the Energy Information Administration on Wednesday, U.S. crude inventories dropped 1.1 million barrels in the week to Dec. 13, while gasoline and distillates stockpiles rose.
