Oil Gains While US Crude's Discount To Brent Deepens
Inventories at Cushing, Oklahoma, the delivery point for U.S. crude futures, fell about 410,000 barrels between May 8 and May 11, said traders, citing data from market intelligence firm Genscape.
"The expectation that there's going to be a drawdown in crude stocks this week is keeping the market very tight," said Phil Flynn, analyst at Price Futures Group.
(Additional reporting by Christopher Johnson in London and Henning Gloystein in Singapore; editing by David Gregorio, Lisa Shumaker and Jonathan Oatis)
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