Bullionguru’s,”Oil prices hover near eight-week highs on lower U.S stocks”

© Reuters. A worker walks past oil pipes at a refinery in Wuhan

Oil prices were sitting just below 8-week highs on Thursday, buoyed by hopes that a steeper-than-expected decline in U.S. crude oil inventories will reduce global oversupply.

Brent crude futures were down 6 cents, or 0.1 percent, at $50.91 a barrel at 0340 GMT, after rising about 1.5 percent in the previous session.

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