Crude prices rose on signs of tightening supply amid sustained Opec output cuts and turmoil in Venezuela. Atlantic basin benchmark North Sea Dated rose by $1.60/bl to $66.06/bl in the week to 14 March, while US marker WTI rose by $1.95/bl to $58.61/bl. WTI prices have risen to a four-month high, partly because of lower US stocks. US crude inventories fell by 3.9mn bl in the week to 8 March as produc- tion eased and imports fell, EIA data show. The inventory drop was a surprise as most analysts had predicted a build.
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