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Oil Inventories Rose by 2.9M Barrels Last Week: API

Published 09/09/2020, 04:32 PM
Updated 09/09/2020, 04:42 PM
© Reuters.

By Yasin Ebrahim

Investing.com - U.S. oil stockpiles snapped six-straight weeks of declines on Wednesday at a time when the renewed spread of Covid-19 cases in some parts of the world threatens the demand outlook.   

U.S. crude inventories rose by 2.97 million barrels last week, according to an estimate released Tuesday by the American Petroleum Institute, after a draw of 6.36 million barrels the previous week.

Crude Oil WTI Futures, the U.S. benchmark for oil, was up 2.64% after settling 3.5% higher at $38.05 a barrel on Wednesday. The surprise build comes a day ahead of the official government expected to show weekly U.S. crude supplies fell by 1.33 million barrels lasrt week.   

Latest comments

well, when inventories are down price goes down so in the same reverse logic, inventories are up so 39 here we come??
Back to 36................
Did not lnow that in a countey like US you can also playbwuthbthe news to benefit some....
fake news
Lasrt week. Very interesting
Buy STNG
Have you seen the chart..??
Scorpio
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