Via Reuters as Asia kicks off for the day:
- U.S. crude futures hit $55.11 a barrel before easing below $55 a barrel on the first trading day of 2015 in Asia
- Supported by last week’s larger-than-expected fall in U.S. crude stocks
- U.S. crude inventories fell by 1.8 million barrels in the last week as refineries hiked output, compared with analysts’ expectations for an decrease of 67,000 barrels
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ADDED – Reuters also citing a fire at an oil storage facility south of Williston, North Dakota.
- Enbridge Inc crude oil storage and pipeline facility
- The facility serves as a key gathering and distribution hub for crude oil produced in North Dakota, the second-largest crude oil producer in the United States
- Not immediately clear if the blaze had been contained
- It was also not clear if the fire was affecting crude oil storage tanks or other parts of the complex
