US oil futures hold above $80 for a fifth consecutive session

Oil futures post a slight gain on Wednesday, with US benchmark West Texas Intermediate prices holding above the key $80 level for a fifth consecutive session. The modest move up for prices came after the Energy Information Administration reported a 500,000-barrel weekly climb in US crude inventories. The EIA data “reflected what pricing has been telling us for weeks; Namely, the growing premium for Brent relative to WTI seen since late December is once again leading to stronger crude exports, which helped limit crude builds this week despite weakness in US refinery runs,” said Troy Vincent, senior market analyst…

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