West TX Oil above $104 on Bakken Supply Rumour

U.S. oil rose on Friday on market talk of decreased supply from the Bakken shale in North Dakota.

Crude oil loadings at a dozen major North Dakota rail terminals fell by more than 200,000 barrels on average in the past two days, data from industry intelligence provider Genscape showed on Friday.

The U.S. Federal Railroad Administration said that any talk of a shutdown at the Bakken oilfield terminals was “a rumor.” However, market chatter about a rail terminal shutdown in the Bakken drove U.S. oil up 34 cents in one minute at 10:35 a.m. Eastern.

CNBC

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