Futures Movers: Oil prices ease, with caution still in place even as U.S. stockpiles decline

Oil prices eased on Thursday, stuck within the tight range they’ve traded in for over a month, as investors remained cautious as to whether the glut in oil supplies was finally disappearing.

Natural-gas prices, meanwhile, headed higher as Tropical Storm Harvey prompted the shut down of some oil and natural-gas facilities in the Gulf of Mexico.

On the New York Mercantile Exchange, October West Texas Intermediate crude CLV7, -2.33% fell 60 cents, or 1.2%, to $47.81 a barrel, holding ground generally between the $45 to $50 range it’s traded in for more than a month.

October Brent crude LCOV7, -1.43% the global oil benchmark, lost 51 cents, or 1%, to $52.06 a barrel on London’s ICE Futures exchange, within the $4 range traded since late July.

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