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TOKYO, Sept 9 Oil prices pulled back on
profit-taking on Friday after settling more than 4 percent
higher a day earlier after government data confirmed a
surprisingly huge drawdown in U.S. crude inventories.
London Brent crude for November delivery was down 36
cents at $49.63 a barrel by 0023 GMT. It settled up $2.01, or
4.2 percent, at $49.99 on Thursday after touching a near
two-week high of $50.14 earlier.
NYMEX crude for October delivery was down 35 cents at
$47.27, after settling up $2.12, or 4.7 percent, on Thursday.
U.S. crude stocks dropped 14.5 million barrels last week to
511.4 million barrels, the biggest weekly drop in stockpiles
since January 1999, according to government data.
Imports into the U.S. Gulf Coast fell to 2.5 million barrels
per day, the lowest since data collection began in 1990.
Traders said the imports fell as ships delayed offloading
cargoes in Texas and Louisiana due to Tropical Storm Hermine.
Gasoline futures fell nearly 1 percent on Friday
after jumping over 5 percent on Thursday after the data release,
on higher than expected draws and rising refinery utilization in
Russian average oil production rose close to 11 million bpd
during Sept. 1-7, industry sources told Reuters, from 10.71
million bpd in August.
(Reporting by Osamu Tsukimori; Editing by Joseph Radford)