Oil Costs Rise As EIA Confirms Robust Draw To Crude Inventories

A day after the American Petroleum Institute performed the fairy godmother to grease bulls by reporting an enormous attract U.S. crude inventories, the EIA strengthened the temper by confirming a big construct in inventories. In response to the authority, U.S. business crude oil inventories fell by 6.four million barrels within the week to Might 26, to a complete of 509.9 million barrels—nonetheless within the higher half of seasonal limits however not exceeding the highest finish anymore, after a second weekly draw. U.S. inventories have expanded by 24 million barrels general in 2017,…

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